QPAetc Posted October 4, 2018 Posted October 4, 2018 Has anyone seen or does anyone have insight into why we haven't received an update from the IRS on hardship and loan relief to victims of Hurricane Florence, similar to other hurricanes such as Harvey and Matthew? From a quick google search, it appears that the announcement was provided within a few days of the disaster in the past. The only update I can find is with respect to tax relief, but not hardships and loans.https://www.irs.gov/newsroom/help-for-victims-of-hurricane-florence
Lois Baker Posted October 5, 2018 Posted October 5, 2018 This request for relief just released by ARA: https://www.napa-net.org/wp-content/uploads/18.10.04Hurricane-Florence-relief-request.pdf
rlbillings Posted November 6, 2018 Posted November 6, 2018 I'm still looking to see if this has been approved for Hurricane Florence to relax the Hardship Withdrawal requirements. I have not seen anything yet after the ARA requested this relief.
Lois Baker Posted November 6, 2018 Posted November 6, 2018 If I recall correctly, the expanded relief after prior hurricanes required legislative action, not simply EBSA/IRS guidance. (Maybe somebody can confirm that?) And federal legislation has been ... slow ... lately. Best source for the latest information is probably the IRS "Hurricane Florence" page: https://www.irs.gov/newsroom/help-for-victims-of-hurricane-florence If any sort of relief is forthcoming, it will almost certainly be posted there.
Lois Baker Posted November 9, 2018 Posted November 9, 2018 IRS Proposed Regs just released to extend relaxed Hardship Withdrawal rules for those affected by Hurricanes Florence and Michael: https://benefitslink.com/newsletters/2018/2018_11_09_retirement_bulletin.html
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