Hurricane Florence – IRA Distributions
Greetings!
I have numerous clients that suffered significant damage due to Hurricane Florence. It is my understanding that in the past there were legislative actions that modified the taxation rules for distributions in Federal Disaster Area. If that is the case, has there been anything modified for this event?
Thanks!
Ed
Permalink Submitted by Alan - IRA critic on Fri, 2018-09-28 04:58
Permalink Submitted by Samuel Taylor on Fri, 2018-09-28 14:33
Thank you! Rep. Rouzer and Rep. Holding both of NC introduced a bill to modify Plan and IRA distributions for the Hurricane Florence impacted areas. HR 6854 was just forwarded to the Ways and Means Committee. It is similar to the actions taken for previous disaster areas (hurricanes and wildfires).