Waiver of Early Distribution Tax Proposed in House
Representative George Santos (R-NY) has introduced H.R. 2637, to provide for an exception to the 10-percent additional tax on early distributions from qualified retirement plans.
Bill Proposed in House to Allow CITs in 403(b) Plans
Congressman Patrick McHenry (R-NC), Chairman of the House Financial Services Committee has introduced H.R. 2799, the Expanding Access to Capital Act.
Funding Notice Guidance for Certain Multiemployer Pension Plans
The DOL has issued Field Assistance Bulletin 2023-01 to provide annual funding notice requirements for multiemployer pension plans that received special financial assistance.
Disaster Assistance May Be Available for Oklahoma Severe Storms
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 24, 2023, for Oklahoma severe storms.
Deadline Relief for Oklahoma Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and tornadoes in Oklahoma.
Disaster Assistance May Be Available for Texas Severe Storm
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 21, 2023, for a severe winter storm in Texas.
IRS Announces Cycle 4 Pre-approved Plan Submission Period
The April 20, 2023, publication of Employee Plans News provides details for plan document restatement deadlines.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2023-33, 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 May 2023
The IRS has issued Revenue Ruling 2023-09, which contains the applicable federal rates (AFR) for May 2023.
IRS Announces Deadline Relief for Indiana Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and tornadoes in Indiana.
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