The IRS and Department of Labor released tax relief guidance for victims of the severe storms and flooding events in Iowa, Nebraska, and Alabama.Read More
As a result of tornadoes, storms, and straight-line wind events in Alabama, the IRS has extended the deadline for affected victims to complete certain time-sensitive tax-related acts.Read More
Both the IRS and Department of Labor have provided their own guidance for tax-related deadline relief to those affected by the wildfires in certain California counties.Read More
The IRS has updated its list of tax-related time-sensitive acts that may be postponed due to federally-declared disasters or service in the Armed Forces.Read More
Budget Act of 2018 makes important changes to retirement plans and IRAs, including tax relief for California wildfire victims, hardship distribution rules relaxed, and changes to portability rules.Read More
The IRS announced a late change for 2017 Form 1099-R reporting of IRA and retirement plan qualified hurricane distributions. The IRS is not, however, requiring reporting corrections.
The IRS released a reminder notice in December 2017 of the tax-related relief granted by the Disaster Tax Relief and Airport and Airway Extension Act of 2017. This legislation, enacted in early October 2017, provides special options for those affected by Hurricanes Harvey, Irma, and Maria, including options specific to IRA and employer-sponsored retirement plan assets.Read More