IRS Issues Required Amendments List
The IRS has released Notice 2021-64 containing the 2021 required amendments list.
House Passes the Build Back Better Act
On November 19, 2021, the U.S. House of Representatives passed H.R. 5376, the Build Back Better Act (“BBB Act” or “the Act”).
Infrastructure Bill Signed into Law
The Infrastructure Act includes additional pension funding relief, disaster relief changes, and new digital asset reporting requirements.
IRS Postpones Requirement to Use Updated Forms W-4P and W-4R
The IRS has issued a fourth draft of the 2022 Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments.
Form 5500 Changes Proposed
In September 2021, the DOL, IRS, and Pension Benefit Guaranty Corporation (PBGC), collectively referred to as the “Agencies”, released proposed changes to Form 5500, Annual Return/Report of Employee Benefit Plan.
IRS Priority Guidance Plan Includes Retirement Items
The IRS has issued its initial 2021-2022 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.
IRS Provides Amendment Guidance
The IRS has released Revenue Procedure 2021-37, providing procedures for the issuance of opinion letters and the timing requirements of remedial amendment periods for Cycle 2 approvals of 403(b) plans.
IRS Deadline Relief for Tennessee Storms Victims
The IRS has issued a news release announcing the postponement of certain tax-related deadlines for Tennessee victims of severe storms and flooding.
IRS Deadline Relief for California Wildfire Victims
The IRS has issued a news release announcing the postponement of certain tax-related deadlines for California wildfire victims.
IRS Finalizes Postponement Period for Federally Declared Disasters
The average number of natural disasters continues to rise. As a result, Congress and the IRS have tried to keep pace by providing relief for those affected by major disasters and emergencies.
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