IRS Posts Instructions for Affordable Care Act Reporting
The IRS has posted 2021 detailed instructions for reporting information related to compliance with the Affordable Care Act (ACA).
Proposed Bill Would Provide Permanent Distribution Relief
Representatives Mike Thompson and Mike Kelly have introduced a bipartisan bill that would make permanent automatic retirement plan and IRA tax relief in connection with federally declared disasters.
2022 Reporting Instructions for HSAs and MSAs
The IRS has posted 2022 Instructions for Forms 1099-SA and 5498-SA.
IRS Issues Draft Instructions for Reporting of Qualified Disaster Distributions
The IRS has provided draft Instructions for Form 8915-F, Qualified Disaster Retirement Plan Distributions and Repayments.
IRS Issues Required Amendments List
The IRS has released Notice 2021-64 containing the 2021 required amendments list.
House Passes the Build Back Better Act
On November 19, 2021, the U.S. House of Representatives passed H.R. 5376, the Build Back Better Act (“BBB Act” or “the Act”).
IRS Guidance on Information Reporting of Health Insurance Coverage
The Department of the Treasury has released a NPR entitled, “Information Reporting of Health Insurance Coverage and Other Issues Under Internal Revenue Code Sections (IRC Secs.) 5000A, 6055, and 6056”.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2021-62, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Build Back Better Bill Passes House, Moves to Senate
The House of Representatives passed the Build Back Better bill. The House-passed version of the bill contains several IRA provisions.
IRS Posts 2021 Form 5329
The IRS has posted the 2021 tax year Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts.
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