What has the IRS done for you? If you are in an eligible Hurricane Irma disaster area–read on.
As of September 13, the Hurricane Irma disaster areas per FEMA eligible for tax relief include St. John and St. Thomas in the U.S. Virgin Islands; Canovanas, Culebra, Loiza, and Vieques in Puerto Rico; and 16 counties in Florida: Broward, Charlotte, Clay, Collier, Duval, Flagler, Hillsborough, Lee, Manatee, Miami-Dade, Monroe, Palm Beach, Pinellas, Putnam, Sarasota, St. Johns.
Employer-sponsored retirement plans –401(k)s, 403(b)s, and 457(b) plans — can make loans and hardship distributions to victims of Hurricane Irma and members of their families without going through the usual hoops.
The special rules, spelled out in IRS Announcement 2017-13, apply between September 4, 2017 and January 31, 2018.
Take advantage of this opportunity if you need to! Let us know if we can help!!