Defined contribution plan

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on October 2, 2024, for Tennessee tropical storm Helene, for the incident period of September 26, 2024 and continuing.

For years, Congress and the IRS have addressed natural disasters (and others) with largely piecemeal responses. For example, when a major hurricane struck, the President would declare a federal disaster, Congress would grant certain relief, and the IRS would implement the details, such as determining the timing of allowable distributions from retirement plans and extending filing deadlines.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on October 1, 2024, for Virginia Tropical Storm Helene, for the incident period of September 25, 2024 and continuing.

The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Helene until May 1, 2025.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, tornadoes, straight-line winds, and flooding in parts of Illinois.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on September 30, 2024 for Georgia Hurricane Helene, for the incident period of September 24, 2024 and continuing.

In 2019, the SECURE Act made several changes to the rules for retirement plans and IRAs, including raising the applicable RMD age from 70½ to 72.R2024 10 01 Secure 2 0 Rmd Changes Infographic

The Federal Emergency Management Agency (FEMA) has issued Major Disaster Declarations on the following dates:

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on September 26, 2024, for Vermont Severe Storms, Flooding, Landslides, and Mudslides, for the incident period of July 29 – July 31, 2024.

Senator Tim Scott (R-SC), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, along with fellow republican committee members Senators Mike Crapo (R-ID), Mike Rounds (R-SD), Thom Tillis (R-NC), John Kennedy (R-LA), Bill Hagerty (R-TN), Cynthia Lummis (R-WY), Katie Britt (R-AL), Kevin Cramer (R-ND), Steve Daines (R-MT), and Jerry Moran (R-KS), have introduced S. 5139, Empowering Main Street in America Act of 2024.