Washington Pulse - IRS Releases Guidance for LTPT Employees of ERISA 403(b) Plans
The Internal Revenue Service recently issued Notice 2024-73, providing guidance regarding the participation of long-term, part-time employees in 403(b) plans subject to Title I of the Employee Retirement Income Security Act.
IRS Announces Deadline Relief for Alaska Flooding
The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in Alaska until May 1, 2025.
Retirement Plan Disaster Assistance May Be Available for Virgin Islands Tropical Storm Ernesto
The Federal Emergency Management Agency issued a Major Disaster Declaration on October 25, 2024, for Virgin Islands Tropical Storm Ernesto.
Retirement Plan Disaster Assistance May Be Available in Nebraska and New York
The Federal Emergency Management Agency issued Major Disaster Declarations on October 21, 2024, for the following locations: Nebraska severe storms, straight-line winds, tornadoes, and flooding, and New York severe storm and flooding.
IRS Issues Yield Curves and Segment Rates for DB Plan Calculations
The Internal Revenue Service has issued Notice 2024-76, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.
Retirement Plan Disaster Assistance May Be Available for North Carolina Potential Tropical Cyclone Eight
The Federal Emergency Management Agency issued a Major Disaster Declaration on October 19, 2024, for North Carolina Potential Tropical Cyclone Eight.
IRS Posts Final Regulations on Withholding on Certain Distributions to Payees Outside the United States
The IRS has posted final regulations regarding income tax withholding on certain periodic payments and nonperiodic distributions from employer deferred compensation plans that are not eligible rollover distributions.
Retirement Plan Disaster Assistance May Be Available for Alaska Flooding
The Federal Emergency Management Agency issued a Major Disaster Declaration on October 16, 2024, for Alaska flooding.
IRS Releases Guidance on Inadvertent Benefit Overpayments Under SECURE 2.0
The Internal Revenue Service has released Notice 2024-77, Guidance Under Sections 414(aa) and 402(c)(12) of the Internal Revenue Code with Respect to Inadvertent Benefit Overpayments.
IRS Announces Applicable Federal Rates for November
The IRS has issued Revenue Ruling 2024-24 which contains the applicable federal rates (AFR) for October 2024.
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