Friday, May 3, 2024

IR-2024-132: Treasury, IRS issue frequently asked questions regarding disaster relief related to retirement plans and IRAs 

Bookmark and Share

IRS.gov Banner
IRS Newswire May 3, 2024

News Essentials

What's Hot

News Releases

IRS - The Basics

IRS Guidance

Media Contacts

Facts & Figures

Around The Nation

e-News Subscriptions


The Newsroom Topics

Multimedia Center

Noticias en Español

Radio PSAs

Tax Scams

The Tax Gap

Fact Sheets

IRS Tax Tips

Armed Forces

Latest News Home


IRS Resources

Contact My Local Office

Filing Options

Forms & Instructions

Frequently Asked Questions

News

Taxpayer Advocate

Where to File

IRS Social Media


Issue Number:    IR-2024-132

Inside This Issue


Treasury, IRS issue frequently asked questions regarding disaster relief related to retirement plans and IRAs 

WASHINGTON –The Internal Revenue Service today issued frequently asked questions (FAQs) in Fact Sheet 2024-19, relating to rules for distributions from retirement plans and IRAs and for retirement plan loans, for certain individuals impacted by federally declared major disasters. 

The FAQs relate to the SECURE 2.0 Act of 2022 (SECURE 2.0) provision that provides for ongoing disaster relief for certain distributions and loans in the case of federally declared major disasters. Prior to the changes made by SECURE 2.0, there was no disaster relief allowing these distributions and loans that applied generally for all major disasters. 

The FAQs are intended to assist individuals, employers, and retirement plan and IRA service providers, and they are divided into four categories: 

    • General Information
    • Taxation and Reporting of Qualified Disaster Recovery Distributions
    • Repayment of Qualified Distributions Taken for the Purpose of Purchasing or Constructing a Principal Residence in a Qualified Disaster Area
    • Loans from Certain Qualified Plans

 

Back to Top


FaceBook Logo  YouTube Logo  Instagram Logo  Twitter Logo  LinkedIn Logo


Thank you for subscribing to the IRS Newswire, an IRS e-mail service.

If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe.

This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.


This email was sent to business.solutions.ve@gmail.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington, D.C. 20535 GovDelivery logo

No comments:

Post a Comment