Hardship Distributions May Be Permitted for South Dakota Severe Storms
FEMA issued a disaster declaration on February 27, 2023, for severe winter storms and snowstorms in South Dakota.
Proposed Rule on Use of Forfeitures in Qualified Plans Released
The IRS has released a proposed rule intending to clarify the use and timing of the allocation of forfeitures in qualified retirement plans.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2023-19, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Additional Final Form 5500 Guidance Issued
The revisions are effective for plan years beginning on or after January 1, 2023.
IRS Finalizes Electronic Filing Requirements for Certain Information Returns
The IRS has released final regulations amending rules intended to increase the filing of electronic returns in accordance with the Taxpayer First Act of 2019.
SECURE 2.0 Act Changes RMD Rules
Learn how new guidance has affected RMDs
IRS Announces Issuance Opinion Letters for Pre-Approved DB Plans
The IRS has released Announcement 2023-6, stating that it expects to issue opinion letters for pre-approved defined benefit plans that were filed with the IRS during the third remedial amendment cycle.
Deadline Relief for California Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding and landslides in California.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2023-12, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
IRS Updates Determination Letter and VCP Submission Information
The IRS has issued Revenue Procedure (Rev. Proc.) 2023-4, which updates guidance on determination letter submission procedures.
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