IRS Announces 2021 Inflation-Adjusted Welfare Benefits
The IRS has inflation-adjusted amounts for various provisions of the Internal Revenue Code (IRC), including employer-provided welfare benefits.
2021 Retirement Savings Limitations Released
The IRS has issued Notice 2020-79, which contains the 2021 retirement savings plan limitations.
IRS Revises Rollover Self-Certification Rules
The IRS has issued modified guidance for taxpayers to self-certify their eligibility for an extension of the 60-day deadline to complete an otherwise-eligible rollover.
New Guidance on Escheated Retirement Plan Account
The IRS has issued guidance for qualified retirement plans that escheat certain accounts of unresponsive or missing participants or beneficiaries to state unclaimed property funds.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has posted Notice 2020-77, guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
PBGC’s November Interest Rate Assumptions for DB Calculations
Interest assumptions for benefit payments with valuation dates in November 2020 to be published in the October 15, 2020 Federal Register.
2021 TWB Announced; Retirement Plan Limits to Follow
The Social Security Administration has announced the 2021 adjustments for benefits and certain other limitations that are subject to annual cost-of-living adjustment (COLA) indices.
Treasury and SBA Announce Simpler PPP Loan Forgiveness Form
Treasury and SBA have announced a “simpler” version of the form used by recipients of Paycheck Protection Program (PPP) business loans of $50,000 or less to request loan forgiveness.
IRS Updates Deadline Relief for Victims of California Wildfires
The IRS has updated deadline relief for completing certain time-sensitive, tax-related acts for victims of California wildfires that began on August 14, 2020.
House Passes Revised Pandemic Relief Bill, Disagreements Remain
The House of Representatives has passed a revised version of the HEROES Act estimated at $2.2 trillion to provide pandemic relief.
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