IRA

The Federal Emergency Management Agency issued a Major Disaster Declaration on April 24, 2025, for Kentucky severe storms. 

The IRS has announced the postponement of certain tax-related deadlines for victims of Tennessee severe storms, straight-line winds, tornadoes and flooding until November 3, 2025. 

The IRS has issued Revenue Ruling 2025-10 which contains the applicable federal rates for May 2025. 

Representative Haley Stevens (D-MI) has introduced H.R. 2748, the First Time Homeowner Savings Plan Act as part of a suite of proposals aimed at addressing housing costs for families. 

Representatives Adrian Smith (R-NE) and Jimmy Panetta (D-CA) have introduced the IRA Charitable Rollover Facilitation and Enhancement Act. 

The IRS has announced the postponement of certain tax-related deadlines for victims of Arkansas storms until November 3, 2025. 

Effective April 1, 2025, the maximum aggregate bankruptcy exemption amount for IRAs increased from $1,512,350 to $1,711,975. 

The Federal Emergency Management Agency issued a Major Disaster Declaration on April 4, 2025, for Virginia severe winter storms and flooding. 

Representatives David Kustoff (R-TN) and Judy Chu (D-CA) previously introduced H.R. 517 the Filing Relief for Natural Disasters Act. 

A Department of Treasury and Financial Crimes Enforcement Network interim final rule has narrowed the requirements for who must file beneficial ownership information pursuant to the Corporate Transparency Act.