The IRS and DOL have announced relief for plans, businesses, and individuals in designated Texas counties affected by Hurricane Harvey. Please refer to the resources below for additional details.
Relief for Victims of Hurricane Harvey - Announcement 2017-11
This announcement provides relief to taxpayers who have been adversely affected by Hurricane Harvey and who have retirement assets in qualified employer plans that they would like to use to alleviate hardships caused by Hurricane Harvey.
Announcement 2017-11 (https://www.irs.gov/pub/irs-drop/a-17-11.pdf)
Help for Victims of Hurricane Harvey
The IRS is providing help to the victims of Hurricane Harvey. Special tax relief and assistance is available to taxpayers in the Presidential Disaster Areas. The IRS is monitoring the situation closely to resolve potential tax administration issues as they are identified. The IRS often updates its information on disaster relief efforts related to Hurricane Harvey. For the latest news, check this page frequently.
Help for Victims of Hurricane Harvey (https://www.irs.gov/newsroom/help-for-victims-of-hurricane-harvey)
IRS Gives Tax Relief to Victims of Hurricane Harvey; Parts of Texas Now Eligible; Extension Filers Have Until January 31, 2018 to File
Hurricane Harvey victims in parts of Texas have until January 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service recently announced. This includes an additional filing extension for taxpayers with valid extensions that run out on October 16, and businesses with extensions that run out on September 15.
IR 2017-135 (https://www.irs.gov/newsroom/irs-gives-tax-relief-to-victims-of-hurricane-harvey-parts-of-texas-now-eligible-extension-filers-have-until-jan-31-to-file)
Tax Relief for Victims of Hurricane Harvey in Texas
Victims of Hurricane Harvey that took place beginning on August 23, 2017 in parts of Texas may qualify for tax relief from the Internal Revenue Service.
The President has declared that a major disaster exists in the State of Texas. Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the IRS recently announced that affected taxpayers in Texas will receive tax relief.
TX-2017-09 (https://www.irs.gov/newsroom/tax-relief-for-victims-of-hurricane-harvey-in-texas)
U.S. Department of Labor Issues Compliance Guidance for Employee Benefit Plans Impacted by Hurricane Harvey
The U.S. Department of Labor has announced an update on employee benefit plan compliance for those impacted by Hurricane Harvey.
The Department understands that plan fiduciaries, employers, labor organizations, service providers, and participants and beneficiaries may encounter issues complying with the Employee Retirement Income Security Act (ERISA) in the foreseeable future as the effects of Hurricane Harvey become apparent. The guidance provided in this statement applies generally to employee benefit plans, plan sponsors, employers and employees, and service providers to such employers who are located in a county identified for individual assistance by the Federal Emergency Management Agency (FEMA) due to the effects of Hurricane Harvey.
DOL News Release (https://www.dol.gov/newsroom/releases/ebsa/ebsa20170830)
U.S. Department of Labor Employee Benefits Security Administration Releases FAQs for Participants and Beneficiaries Following Hurricane Harvey
FAQs