Tag: IRS

The Internal Revenue Service has issued Revenue Ruling 2012-5 with the table of covered compensation for the 2012 plan year.

The Internal Revenue Service opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns.

The Internal Revenue Service has issued a number of Revenue Procedures revising procedures for furnishing advice to employee plans. 

The Internal Revenue Service (IRS) has extended the application deadline for opinion and advisory letters for pre-approved defined contribution plan documents. 

The U.S. Senate passed legislation Saturday extending a Social Security payroll tax cut and jobless benefits for just two months.

The Internal Revenue Service (IRS) has issued a reminder for taxpayers to take advantage of the saver's credit for 2011. 

The Internal Revenue Service issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. 

Representatives from the Internal Revenue Service Employee Plans Examination Program discussed common retirement plan errors on a conference call with the media.

Over 95% of the 1,200 plan sponsors contacted by the Employee Plans Compliance Unit of the IRS voluntarily completed an online 401(k) Compliance Check Questionnaire.

The Internal Revenue Service (IRS) has issued a notice to provide guidance on fee requirements for employee plans determination in the Internal Revenue Code. 

For the 2012 tax year,  personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service (IRS) reports. 

The Internal Revenue Service (IRS) announced cost of living adjustments (COLAs) affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2012.

The Treasury Department and the IRS intend to postpone the effective/applicability date regarding special rules for statutory hybrid plans, relating to interest crediting rates under a cash balance...

The Internal Revenue Service released Revenue Procedure 2011-49, on new requirements for sponsors of pre-approved plans seeking opinion and advisory letters that...

The Internal Revenue Service (IRS) has issued Revenue Procedure 2011-44, which modifies the procedures for church plans that are filing a request for a determination letter. 

The Internal Revenue Service has updated its list of entities approved to serve as nonbank trustees or custodians for certain tax-advantaged savings accounts.

Taxpayers who unsuccessfully attempted to transfer amounts from their individual retirement accounts (IRAs) to a retirement plan based on incorrect advice from their financial adviser were granted 60...

A tax court has upheld a 10% early distribution penalty that the Internal Revenue Service (IRS) imposed on a deemed distribution of a plan loan.

In my experience, there are three major reasons that people save for retirement.   

At last week’s Northeast Area Benefits Conference, co-sponsored by the IRS and ASPPA, two Certified Public Accountants discussed the many moving parts of a retirement plan audit.