Massachusetts adopts the federal exclusion for the employee fringe benefit of payments received under the Homeowners Assistance Plan. Such payments are intended to compensate military personnel and certain civilian employees for a reduction in the fair market value of their homes resulting from military or Coast Guard base closure or realignment.
Origin: IRC § 132(m)
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2016
FY2017
FY2018
FY2019
FY2020
Personal Income Tax
Exclusions from Gross Income
1.035
Department of Defense Homeowners Assistance Plan
Massachusetts adopts the federal exclusion for the employee fringe benefit of payments received under the Homeowners Assistance Plan. Such payments are intended to compensate military personnel and certain civilian employees for a reduction in the fair market value of their homes resulting from military or Coast Guard base closure or realignment.
<a href="http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000132----000-.html" target="_blank">IRC § 132(m)</a>
N.A.
N.A.
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N.A.
N.A.
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