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Archive for the ‘Hurricane Sandy’ Category

Retirement Plans Can Make Loans, Hardship Distributions to Sandy Victims

  As part of the administration’s efforts to bring all available resources to bear to support state and local partners impacted by Hurricane Sandy, the Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane […]

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Hurricane Sandy: Tips for Accessing Relief

  The devastation caused by Hurricane  (now Superstorm) Sandy is widespread. And while you may not have been impacted directly by the storm, you may know of someone who was. Fortunately, the relief wheels are in motion, albeit never fast enough. In an effort to help those […]

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IRS Announces Qualified Disaster Treatment of Payments to Victims of Hurricane Sandy are not Taxable

Washington – The Internal Revenue Service today alerted employers and other taxpayers that because Hurricane Sandy is designated as a qualified disaster for federal tax purposes,  qualified disaster relief payments made to individuals by their employer or any person can be excluded from those individuals’ taxable income. […]

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