Yes, it will be a form of income.
But something seems grossly unjust about the notion that direct aid being provided by the federal government to fishermen as part of a national fisheries economic disaster package may be taxable — beginning with the idea of these working businessmen having to funnel a hefty chunk of the money they are due right back to the same government that put them in this bind in the first place.
So while it is likely too late for congressional lawmakers to rectify this latest insult to fishermen, they should already be considering the need to specify the words “tax free” in any similar aid bill they will be putting through next year. And make no mistake — the delays in providing the long-overdue aid need to the fishing industry this year, coupled with potential new cod limit cuts and a failure to address the need for changes in the regulatory framework of the federal Magnuson-Stevens Act are already ensuring that another significant aid package will be needed to keep this industry afloat through 2015.
Read the full story at the Gloucester Times>>
Want to read more about federal disaster aid? Click here...
National Fisherman Live: 2/26/15
In this episode, National Fisherman's Online Editor Leslie Taylor speaks with Rick Constantine, vice president of marketing, Acme United Corporation, about Cuda corrosion resistant knives.
National Fisherman Live: 2/24/15
In this episode:
March date set for disaster aid dispersal
Oregon LNG project could disrupt fishing
NOAA tweaks gear marking requirement
N.C. launches first commercial/recreational dock
Spiny lobster traps limits not well received
Today Sen. Lisa Murkowski (R-AK) introduced legislation to extend a permanent exemption for incidental runoff from small commercial fishing boats.
The National Working Waterfront Network is now accepting abstracts and session proposals for the next National Working Waterfronts & Waterways Symposium, taking place Nov. 16-19 in Tampa, Fla. The deadline is Tax Day, April 15.Read more...