A Reminder on Next Generation Summer Hours
The Next Generation office will close at 3:30pm ET every Friday from May 27th through September 2nd as part of our Summer Hours schedule. 

Made a Donation After Hurricane Sandy?

Published on March 28, 2013

Photo by Greg Foster via Flickr for Creative Commons

Now that a few months have gone by, and the Northeast continues to rebuild and recovery from the devastation left in Hurricane Sandy’s wake, there are a few things to keep in mind with the end of the tax season closing in. The IRS has provided some help for victims of the hurricane which may affect your current retirement plan(s).

First of all, the IRS has eased the rules a bit to allow company retirement plans to make loans and hardship distributions to Sandy victims (this rule does not apply to IRAs). They have also postponed certain tax-related deadlines, such as the 60-day rollover period, the correction of excess contributions, etc. These postponements apply to IRA and company retirement plans.

For those of you reading this that have not been victimized by Hurricane Sandy, there are some ways to use your IRA money to donate and make charitable contributions to those in need. Some of these avenues include the following:

To read more about ways to contribute to Sandy victims, please check out this article by TheSlottReport.com titled, “Charities, IRAs, and Hurricane Sandy.”

Back to Blog