N-2024-46: Treatment of certain relief payments made to individuals affected by the East Palestine, Ohio train derailment.

Notice 2024-46 announces that the Commissioner of Internal Revenue (Commissioner) has determined that the February 3, 2023, derailment of a freight train operated by a common carrier in East Palestine, Ohio (Derailment), is a qualified disaster for purposes of § 139 of the Internal Revenue Code (Code). As a result of this determination, certain payments made by the common carrier to individuals affected by the Derailment (affected individuals) are excludable from gross income as qualified disaster relief payments under § 139(a).

Notice 2024-46 will be published in Internal Revenue Bulletin 2024-26, on June 24, 2024.

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