Updated Yield Curves and Segment Rates for DB Plan Calculations
The IRS has issued Notice 2021-22, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.
IRS Announces Extension to File Tax Return
The IRS has announced that tax filing due dates for 2020 tax year federal income tax returns will be automatically extended from April 15, 2021, to May 17, 2021.
Deadline Relief for Louisiana Victims of Storms
The IRS has issued a news release announcing the postponement of certain tax-related deadlines for Louisiana winter storm victims.
IRS Provides Updated Draft Withholding Forms
The IRS has made available a third early release 2022 tax year draft Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments.
DOL Proposes Withdrawal of Independent Contractor Rule
The Department of Labor (DOL) Wage and Hour Division has proposed to withdraw the independent contractor rule, which has not yet taken effect.
President Signs Amended COVID-19 Relief Legislation
President Biden has signed into law the American Rescue Plan Act one day after the House of Representatives voted to pass the amended package.
DOL Announces Non-Enforcement of ESG and Proxy Rules
The Department of Labor (DOL) has issued a statement that it will not enforce two final rules that were issued late in 2020.
House Passes Amended COVID-19 Relief Bill
Following Senate passage, the House of Representatives has passed the American Rescue Plan Act of 2021 to provide additional relief to address the continued impact of COVID-19.
IRS Posts Small Business Retirement Plan Publication
The IRS has posted the 2020 tax year version of Publication 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans).
Schedule C Tax Filers to Use Gross Income for PPP Loans
The SBA has issued an interim final rule that would allow business owners who file a Schedule C to use gross income in determining payroll costs for PPP loans.
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