Commenters Request Eased Enforcement on SECURE 2.0 Part-Time Eligibility
Many stakeholders expressed concern with the administrative hassle of tracking the service of long-term, part-time employees and said compliance would...
Tag: IRS
DOL Brings Clarity to Newly Available Emergency Savings Accounts
The FAQ guidance builds on earlier IRS directives, with a focus on investments and fee structures.
IRS Addresses Emergency Savings Accounts, Calls for Comment
The notice calls for stakeholders to recommend appropriate enforcement actions to prevent the gaming of employer matches on ESAs.
IRS Notice Clarifies SECURE 2.0 Automatic Enrollment, Tax Credits, Other Features
The grab-bag notice also provided guidance on de minimis incentives, distributions for the terminally ill and Roth matching.
IRS 2023 Changes List for Pre-Approved Plans Is Out
The list contains many SECURE 2.0 provisions, but includes amendments stemming from other laws as well.
IRS Publishes Revised Form 8881
The one-page form marks the symbolic start of SECURE 2.0’s enhanced tax credits for small business retirement plan startups.
DOL, IRS Announce Spring Regulatory Agendas
The agendas contain important updates on fiduciary corrections and ESOP valuation.
Part-Time Retirement Eligibility Proposal Seeks to Clarify Complex Legislation
The IRS published fiduciary guidance on legislation intended to give more part-time workers access to retirement plans.
Maximum Benefit and Contribution Limits Table 2024
Maximum Benefit/Contribution Limits for 2019 through 2024, with a downloadable PDF of limits from 2014 to 2024.
IRS Announces 2024 Contribution Limits
The new limits come with guidance on all the cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related...
Temporary Budget Agreement Keeps 2024 Inflation Adjustments on Track
The Social Security COLA and IRS Contribution Limits will continue on schedule after a near miss on government shutdown.
Advisers: Roth Catch-Up Extension Welcome, Clarity Still Needed
Retirement plan advisers were happy to tell plan sponsors about the two-year Roth catch-up extension. But the hard work isn’t...
IRS Extends Roth Catch-up Contribution Deadline
The IRS extended the requirement by two years to 2026 so that any catch-up contributions from higher income earners must...
IRS Provides Tax Relief for Hawaii Wildfire Victims
Victims of the wildfires on the islands of Maui and Hawaii are eligible for Internal Revenue Service tax relief, including waiving the...
IRS Issues RMD Relief Related to SECURE Rules
The IRS notice provides additional time to rollover mistaken required minimum distributions as well as RMD relief for IRA beneficiaries.
PEP Growth Slows as Startups Fold
An IRS clarification that expanded audits for PEPs may be a factor for some providers in leaving the market.
Employees Can’t Deduct Wellness Indemnity Plans From Their Taxes, IRS Says
Workplace wellness indemnity programs funded through salary withholding cannot be tax deductible if that money is used for non-medical reimbursement.
House Appropriations Bill Would Block Safeguarding and Swing Pricing Proposals, Among Others
The legislation also targets the climate disclosure and market structure proposals.
IRS Provides Interim Guidance for EPCRS Changes
SECURE 2.0 laid out changes to IRS correction programs, but the May guidance clarifies how they will operate until the...
Democrats Trade Budget Cuts for Debt Ceiling Extension
The House is scheduled to vote on the proposal Wednesday before passing it to the Senate.