| A bill benefiting survivors of terrorism victims was | | | | including his monetized sick and vacation leaves. |
| passed and signed into law in 2001. Its main provisions | | | | - Death benefits from an employer paid because of |
| include: | | | | the victim's death due to the attack are also not |
| - Exemption from income taxes for those individuals | | | | taxable, whether paid in full or in tranches. |
| who died as a result of the September 11, 2001 attack, | | | | - His worker's compensation benefits are not taxable |
| the April 19, 1995 Oklahoma City attack and the | | | | under this tax relief. |
| anthrax poisonings before and after September 11, | | | | - Terrorist victims' estates are not taxable up to the |
| 2001. Exemption is applicable from the year before the | | | | first $8.5 million value of net assets. |
| attacks to the year of death. | | | | - The victim's family can receive benefits from |
| The amount of exemption per qualified individual is | | | | charities without those charities being disqualified from |
| $10,000 minimum without regard to the person's tax | | | | their tax-free status |
| liability for the relevant years. This means that if the | | | | - Employers can establish foundations solely for the |
| victim's income tax is less than $10,000, it is assumed | | | | monetary benefit of employee-victims' families |
| that he has also paid the difference between his | | | | - Latitude is granted to the Treasury Department in |
| actual liability and the $10,000 exemption. Exception to | | | | postponing tax filing deadlines, extending deadlines for |
| this is that it cannot be applied to monies received | | | | tax payment (except payroll taxes) and other filings of |
| from retirement plans or IRAs to the victim's estate or | | | | taxpayers affected by declarations of disaster by a |
| beneficiaries, but applies to the victim's final paycheck | | | | President. |