Federal Prime Interest Rate Increased to 6.25 Percent
Effective September 21, 2022, the Federal prime interest rate increased from 5.50 percent to 6.25 percent.
Deadline Relief for Puerto Rico Victims of Hurricane Fiona
The IRS has announced the postponement of certain tax-related deadlines for victims of hurricane Fiona in Puerto Rico.
Deadline Relief for Arizona Victims of Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms in Arizona.
Senate Finance Committee Formally Introduces EARN Act
Senators Ron Wyden (D-OR) and Mike Crapo (R-ID), Senate Finance Committee Chair and Ranking Member, have introduced S.4808, the Enhancing American Retirement Now (EARN) Act.
DOL Invites Public Hearing on QPAM Exemption
The DOL is extending the comment period for receiving written comments related to prohibited transaction class exemption 84-14 (the Proposed QPAM Amendment) to October 11, 2022.
DOL Releases Interpretive Bulletin on Auditor Independence
The Department of Labor (DOL) has released Interpretive Bulletin 2022-01 (IB) relating to independence requirements for accountants who audit employee benefit plans.
DOL’s Proposed Restated Voluntary Fiduciary Correction Program at OMB
The Office of Management and Budget has received a proposed rule from the Department of Labor (DOL) titled “Adoption of Amended and Restated Voluntary Fiduciary Correction Program”.
IRS Announces Applicable Federal Rates for September 2022
The IRS has issued Revenue Ruling 2022-17, which contains the applicable federal rates (AFR) for September 2022.
IRS Final Rule on Electronic Filing Requirements at OMB
The Office of Management and Budget has received a final rule from the IRS titled “Electronically Filed Returns”.
Proxy Vote Changes for Index Funds Proposed in House
Representatives Bill Huizenga (R-MI) and Blaine Luetkemeyer (R-MO) have introduced HR 8521, the Investor Democracy is Expected (INDEX) Act.
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