The IRS has issued Notice 2023-75, which contains the 2024 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).
The Federal Emergency Management Agency issued a disaster declaration on October 18, 2023, for California Tropical Storm Hilary, for the incident period of August 19 – August 21, 2023.
The Internal Revenue Service has released final regulations titled “Mortality Tables for Determining Present Value under Defined Benefit Pension Plans”.
The Internal Revenue Service has issued Notice 2023-72, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.
The IRS has announced an additional postponement of certain tax-related deadlines for victims of severe winter storms beginning on March 9, 2023, January 8, 2023, and December 27, 2022.
The IRS has issued Revenue Ruling 2023-20, which contains the applicable federal rates (AFR) for November 2023.
The IRS has announced, in Notice 2023-71, the postponement of certain tax-related deadlines for taxpayers affected by the October 7, 2023, terroristic action in the State of Israel.
The Federal Emergency Management Agency issued a disaster declaration on October 11, 2023, for Montana flooding for the incident period of June 1 – June 8, 2023.
The IRS has announced the postponement of certain tax-related deadlines for victims of seawater intrusion in parts of Louisiana.
In a recent issue of the Employee Plans News, the IRS has announced the update of several forms used to submit Voluntary Correction Program applications to the IRS.