IRA

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 24, 2024, for West Virginia severe storms, flooding, landslides, and mudslides, for the incident period of April 11, 2024 – April 12, 2024.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 24, 2024, for Maine severe winter storm, for the incident period of April 3, 2024 – April 5, 2024.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 24, 2024, for Iowa severe storms for the incident period of May 20, 2024 – May 21, 2024.

The Department of Labor (DOL) recently released a regulatory package that includes a final amendment (the Retirement Security Rule) to the regulations that define what constitutes an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) Title I and Title II (codified in the Internal Revenue Code).

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 17, 2024, for Texas severe storms, straight-line winds, tornadoes, and flooding, for the incident period of April 26, 2024, and continuing.

The IRS has announced the postponement of certain tax-related deadlines for victims of Iowa severe storms and tornadoes.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 15, 2024, for Massachusetts severe storms and flooding, for the incident period of September 11 – 13, 2023.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 14, 2024, for Iowa severe storms and tornadoes, for the incident period of April 26 – 27, 2024.

In January 2024, the Internal Revenue Service (IRS) released Notice 2024-22, providing guidance with respect to anti-abuse rules for Pension-Linked Emergency Savings Accounts (PLESAs), a new provision created by the SECURE 2.0 Act of 2022 (SECURE 2.0).

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 2, 2024, for Ohio tornadoes, for the incident period of March 14, 2024.