Bottom Line Tax & Accounting LLC

Announcement 2017-15 provides relief to victims of Hurricane Maria and the recent California wildfires, which caused damage to Puerto Rico, the U.S. Virgin Islands, and parts of California. It permits easier access to funds held in workplace retirement plans and in IRAs for the period beginning September or October 2017 and ending March 15, 2018. The relief provided in the announcement is in addition to the relief the IRS already provided under News Releases CA-2017-06, VI-2017-02 and PR-2017-02.

Notice 2017-67 provides guidance on the requirements for providing a qualified small employer health reimbursement arrangement (QSEHRA) under section 9831(d) (added to the Internal Revenue Code by 21st Century Cures Act (Cures Act)), the tax consequences of the arrangement, and the requirements for providing written notice of the arrangement to eligible employees.

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