Brown Pushes For Tax Exemption for Realty Relief Payments

WASHINGTON, D.C. —  U.S. Sen. Sherrod Brown of Ohio is asking the IRS commissioner and treasury secretary to declare that relief payments to Youngstown residents affected by the May 28 explosion at Realty Tower be tax exempt.

Brown also said when he was in Youngstown earlier this week for a roundtable with those affected by the explosion that he planned to seek that relief. 

A Thursday news release said Brown is pushing the IRS to declare the explosion “of a catastrophic nature which would qualify the payments as nontaxable.

“I strongly urge you to determine that all payments made to residents of Youngstown by the Red Cross, the United Way and Enbridge Gas in connection to the May 28, 2024, explosion are payments for ‘reasonable and necessary’ expenses due to a disaster of ‘catastrophic nature’ and shall be considered to be ‘qualified disaster relief payment’’ under U.S. code, the release said. “I also urge you to explore any and all authority to provide similar tax relief to affected small businesses.”

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