Hardship Distributions May Be Permitted for West Virginia Storms
FEMA has issued a disaster declaration for severe storms, flooding, landslides, and mudslides in West Virginia.
Deadline Relief for Illinois Victims of Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storm and flooding in Illinois.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2022-60, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
IRS Announces Applicable Federal Rates for December 2022
The IRS has issued Revenue Ruling 2022-22, which contains the applicable federal rates (AFR) for December 2022.
President to Nominate Danny Werfel as IRS Commissioner
The White House announced President Joe Biden’s intent to nominate Danny Werfel as the next Commissioner of the Internal Revenue Service (IRS).
IRS Expands Determination Program for 403(b) Plans
The IRS has issued Revenue Procedure 2022-40, which permits the submission of determination letter applications for 403(b) individually designed plans.
IRS Priority Guidance Plan Includes Retirement Items
The IRS has issued its 2022-2023 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.
IRS Releases 2023 Cost-of-Living Adjusted Retirement Savings Limitations
The IRS has issued Notice 2022-55, which contains the 2023 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).
Hardship Distributions May Be Permitted for Illinois Severe Storms
The Federal Emergency Management Agency (FEMA) has issued a disaster declaration for severe storm and flooding in Illinois, beginning October 14, 2022.
IRS Announces Applicable Federal Rates for November 2022
The IRS has issued Revenue Ruling 2022-20, which contains the applicable federal rates (AFR) for November 2022.
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