IRS Announces Applicable Federal Rates for October
The IRS has issued Revenue Ruling 2024-21 which contains the applicable federal rates for October 2024.
Retirement Plan Disaster Assistance May Be Available for Louisiana Hurricane Francine
The Federal Emergency Management Agency issued a Major Disaster Declaration on September 16, 2024, for Louisiana hurricane Francine.
IRS Announces Electronic Pre-Approved Plan Submission Procedures
The IRS has indicated that application steps for pre-approved plan document providers seeking to obtain IRS approval of defined contribution and defined benefit arrangements is changing to incorporate electronic filing requirements.
Retirement Plan Disaster Assistance May Be Available for Pennsylvania and Vermont
The Federal Emergency Management Agency issued a Major Disaster Declaration on September 11, 2024, for Vermont severe storms and flooding and for Pennsylvania tropical storm Debby.
IRS Announces Deadline Relief for New York Severe Storms
The Internal Revenue Service has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in New York.
IRS PLR Grants Additional Flexibility for Employer Contributions
A private letter ruling issued by the Internal Revenue Service allows the inquiring taxpayer to offer a discretionary employer contribution.
Employer Plan Tax Credits for Small Nonprofits Proposed
Senators James Lankford (R-OK) and Catherine Cortez Masto (D-NV) have introduced the Small Nonprofit Retirement Security Act.
IRS Announces Deadline Relief for Connecticut Severe Storms
The Internal Revenue Service has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, landslides and mudslides in Connecticut.
IRS Issues Request for Information on Saver’s Match
The IRS has issued Notice 2024-65 requesting comments on implementation of sections 103 and 104 of SECURE 2.0 regarding the Saver’s Match contributions and the Treasury Department’s obligations to promote the new Saver’s Match.
SECURE 2.0 May Impact How Businesses Complete Forms W-2
The IRS has released a fact sheet informing employers that adopting certain plan provisions will impact how certain amounts are reported on Form W-2, Wage and Tax Statement.
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