Withdrawals from retirement accounts, like 401(k)s and IRAs, made specifically due to federally declared disasters are often referred to as hardship distributions. These withdrawals may be eligible for favorable tax treatment under... Read more »
Withdrawals from retirement accounts, like 401(k)s and IRAs, made specifically due to federally declared disasters are often referred to as hardship withdrawals related to qualified disasters. These withdrawals can provide individuals with... Read more »
Withdrawals from retirement accounts, like 401(k)s and IRAs, taken under specific IRS provisions due to federally declared disasters are generally known as qualified disaster distributions. Tax software often provides tools and guidance... Read more »