Hurricane Irma Tax Relief

[RatherBeGolfing]

IRS Gives Tax Relief to Victims of Hurricane Irma; Like Harvey, Extension Filers Have Until Jan. 31 to File; Additional Relief Planned

Current relief is limited to any area designated by the Federal Emergency Management Agency (FEMA), as qualifying for individual assistance.  Right now, that means US Virgin Island, Puerto Rico and some parts of Florida.  The scope of the relief will most definitely be broadened to include more Florida counties, but as of right now, the following counties have been designated as qualifying for individual assistance (and therefore tax relief):

• Brevard (added 9/13)
• Broward
• Charlotte
• Clay
• Collier
• Duval
• Flagler
• Hillsborough
• Lee
• Manatee
• Miami-Dade
• Monroe
• Orange (added 9/13)
• Palm Beach
• Pasco (added 9/13)
• Pinellas
• Polk (added 9/13)
• Putnam
• Sarasota
• St. Johns
• St. Lucie (added 9/13)

IRS Announcement 2017-13  allows loans and hardship withdrawals for Hurricane Irma victims, similar to relief announced for Hurricane Harvey

Useful links

FEMA disaster link You can use this link to view FEMA declared disasters by state or tribal government. 

IRS News Releases You can use this link view updated news releases from the IRS for the month of September

IRS Hurricane Irma Page

IRS Disaster Tax Relief page

Effens Thread on Funding Relief for DB Plans (Notice 2017-49)

 

* Edited to add more information when available

[Lois Baker]

Also IRS Announcement 2017-13 just released, allows loans and hardship withdrawals for Hurricane Irma victims, similar to relief announced for Hurricane Harvey:

https://benefitslink.com/src/irs/a-17-13.pdf

[RatherBeGolfing]

5 minutes ago, Lois Baker said:

Also IRS Ann. 2017-13 now allows loans and hardship withdrawals for Hurricane Irma victims, similar to relief announced for Hurricane Harvey:

https://benefitslink.com/src/irs/a-17-13.pdf

Thanks Lois!  I'll add it to my original post to keep it as up to date as possible

[RatherBeGolfing]

Additional qualifying Florida counties added on 9/14

• Citrus
• DeSoto
• Glades
• Harde
• Hendry
• Hernando
• Highlands
• Indian River
• Lake
• Marion
• Martin
• Okeechobee
• Osceola
• Seminole
• Sumter
• Volusia

[RayJJohnsonJr]

THANK YOU RatherBeGolfing  for posting these recent updates, especially the DB post Effens Thread on Funding Relief for DB Plans (Notice 2017-49) .

Does anyone know? An employer with a DB Plan who qualifies for funding relief would normally have to make his DB contribution by 9/15/17, the deadline for filing his S--Corp return.  Both the employer and his TPA are in FEMA disaster zone, without electricity, internet, etc.  Does the relief for funding the DB extend the tax deductibility of his contribution?

[Mike Preston]

Yes.

[Lois Baker]

Here's the DOL (9/15/17):  https://www.dol.gov/newsroom/releases/ebsa/ebsa20170915

[RayJJohnsonJr]

On 9/14/2017 at 4:05 PM, Mike Preston said:

Yes.

Thank you Lois and Mike.  Y'all are a big help.