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Regulatory and Legislative
IRS Announces Deadline Relief for Hurricane Helene in Multiple States
The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Helene until May 1, 2025.
Regulatory and Legislative
IRS Announces Deadline Relief for Illinois Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, tornadoes, straight-line winds, and flooding in parts of Illinois.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Hurricane Helene in Georgia
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on September 30, 2024 for Georgia Hurricane Helene, for the incident period of September 24, 2024 and continuing.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Hurricane Helene
The Federal Emergency Management Agency (FEMA) has issued Major Disaster Declarations on the following dates:
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Georgia, Nebraska, Washington, Kansas, and New York
The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on September 24, 2024, for the following locations:
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for New York, Illinois, and Connecticut Disasters
The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on September 20, 2024.
Regulatory and Legislative
IRS Announces Deadline Relief for Pennsylvania Tropical Storm Debby
The IRS has announced the postponement of certain tax-related deadlines for victims of Tropical Storm Debby in Pennsylvania.
Regulatory and Legislative
Washington Pulse: New Guidance Released on Matching Contributions for Qualified Student Loan Payments
Recent legislation passed by Congress includes several provisions that enhance the ability of workers to increase their retirement savings. One of these provisions, Section 110 of the SECURE 2.0 Act of 2022 (SECURE 2.0), also enhances the ability of employers that sponsor a 401(k), 403(b), governmental 457(b), or a SIMPLE IRA plan to supplement workers’ retirement savings by providing matching contributions to employees who make qualified student loan payments (QSLPs) in 2024 and later plan years.
Regulatory and Legislative
IRS Announces Applicable Federal Rates for October
The IRS has issued Revenue Ruling 2024-21 which contains the applicable federal rates (AFR) for October 2024. These rates are used for such purposes as calculating distributions from retirement savings arrangements that meet the requirements for substantially equal periodic payments (a 10 percent early distribution penalty tax exception), also referred to as “72(t) payments.”
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Louisiana Hurricane Francine
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on September 16, 2024, for Louisiana hurricane Francine for the incident period of September 9 – September 12, 2024.