IRS Issues Updates for DB Plan Calculations
The IRS has issued Notice 2022-35, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
DOL to Reopen Comment Period for Proposed Prohibited Transaction Procedure
The DOL has announced a public hearing scheduled for September 15, 2022.
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”.
IRS Issues Deadline Relief for Missouri Storm Victims
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in Missouri.
Retirement Protection Act Proposed in House
Representatives David Schwikert (R-AZ) and Byron Donalds (R-FL) have introduced H.R. 8579, the Retirement Protection Act.
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.
IRS Extends Remedial Amendment Period for SECURE Act
The IRS issued Notice 2022-33 which extends the deadline for amendments to retirement plans and IRAs to adopt provisions enacted under the SECURE Act, the Miners Act, and some provisions under the CARES Act.
Deadline Relief for Island of St. Croix, U.S. VI
The IRS has announced the postponement of certain tax-related deadlines for victims of a water shortage and health impact from unprecedented sargassum seagrass influx on the island of St. Croix, U.S. Virgin Islands.
Another Cryptocurrency Proposal Introduced in Senate
Senators Debbie Stabenow (D-MI), and John Boozman (R-AR), along with Senators Cory Booker (D-NJ) and John Thune (R-SD), have introduced the “Digital Commodities Consumer Protection Act.”
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