The IRS announced the postponement of certain tax-related deadlines for victims of wildfires and straight-line winds in New Mexico.
The IRS has issued a revised 2021 Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).
The Department of Labor (DOL) has kicked off what is to be a series of roundtable discussions on how to improve retirement security for workers.
Effective April 1, 2022, the maximum aggregate bankruptcy exemption amount for IRAs increased from $1,362,800 to $1,512,350.
The IRS has issued Revenue Ruling 2022-9, which contains the applicable federal rates (AFR) for May 2022.
The U.S. House of Representatives passed the Securing a Strong Retirement Act of 2022 (SSRA) by a 414-5 vote on March 29, 2022.
The House of Representatives has passed the Securing a Strong Retirement Act of 2022 (which lawmakers are coining SECURE 2.0) by a 414-5 vote.
Representative Ann Wagner has introduced the Long-Term Care Affordability Act to allow distributions from retirement accounts for the payment of long-term care insurance coverage.
Representative Brad Wenstrup has introduced the Enhancing Emergency and Retirement Savings Act of 2022 to provide flexibility and access for those who experience unexpected emergencies.
The temporary suspension will allow the IRS to update the prototype IRA opinion letter program, issue revised model forms and LRMs, and issue published guidance to reflect recent legislation.