The IRS has posted the 2022 tax year version of Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding. Form 1042-S is used by IRA custodians, trustees, and issuers to report payments to nonresident aliens, including distributions from IRAs and employer-sponsored retirement plans. There are no noteworthy changes from the 2021 form to report.
Regulatory and Legislative
The Internal Revenue Service has announced that it intends to begin issuing opinion letters regarding Cycle 2 pre-approved 403(b) plans, including the 2022 cumulative list of changes in those requirements.
Regulatory and Legislative
The Office of Management and Budget has received a final rule from the Department of Labor titled “Adoption of Amended and Restated Voluntary Fiduciary Correction Program”.
Regulatory and Legislative
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and straight-line winds in the Crow Tribe of Montana.
