IRS Issues Exceptions to Penalties for Failure to File Correct Information Returns or Payee Statements
The IRS has released final regulations that provide de minimis error safe harbor exceptions to penalties for failure to file correct information returns or furnish correct payee statements.
FuturePlan by Ascensus Adds New Regional Vice President to Sales Team
FuturePlan has announced the appointment of a new Regional Vice President, Nick Kennedy, to the FuturePlan team.
IRS Provides 2024 Covered Compensation Tables Used in DB Plans
The IRS has issued Revenue Ruling 2024-1, containing the covered compensation tables for the 2024 plan year.
IRS Announces Applicable Federal Rates for January 2024
The IRS has issued Revenue Ruling 2024-02, which contains the applicable federal rates (AFR) for January 2024.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2024-04, which contains updated guidance on factors used in certain DB pension plan minimum funding and present value calculations.
Retirement Plan Disaster Assistance May Be Available for Tennessee Severe Storms
The Federal Emergency Management Agency issued a disaster declaration on December 13, 2023, for Tennessee severe storms and tornadoes, for the incident period of December 9, 2023.
OMB Completes Review of DOL Regulatory Terms
Two Department of Labor (DOL) regulatory actions have been removed from the Office of Management and Budget’s list for review.
IRS Issues Proposed Long-Term, Part-Time Regulations
The Internal Revenue Service has released a proposed regulation reflecting statutory changes related to long-term, part-time employees made by the SECURE Act of 2019 (SECURE Act) and the SECURE 2.0 Act of 2022 (SECURE 2.0).
Proposed Automatic Portability Exemption at OMB
The Office of Management and Budget has received a proposed rule from the Department of Labor titled “Exemption for Certain Automatic Portability Transactions”.
SECURE 2.0 Technical Corrections Draft Released
The Senate and House committees of jurisdiction have released a draft containing technical corrections and other clarifications to SECURE 2.0.
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