News

Congress Votes to Extend Paycheck Protection Program

A proposal to extend the Paycheck Protection Program (PPP) through the end of May has passed the Senate by a vote of 92-7. 

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

Legislative updates

New Guidance on PPE as Medical Expense

The IRS has indicated that amounts paid for PPE that are primarily used to prevent the spread of COVID-19 are treated as amounts paid for medical care. 

FuturePlan ERISA Team

HSA

IRS

IRS Guidance

Adeyemo Confirmed as Deputy Secretary of the Treasury

Wally Adeyemo has been confirmed as Deputy Secretary of the Treasury after the Senate approved him in a bipartisan voice vote.

FuturePlan ERISA Team

IRS

Marty Walsh Confirmed as Secretary of Labor

Former Boston Mayor Marty Walsh was confirmed on Monday as Secretary of the Department of Labor (DOL). 

FuturePlan ERISA Team

DOL

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. 

FuturePlan ERISA Team

Defined Benefit Plan

Retirement

Employer

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.

FuturePlan ERISA Team

Defined Contribution Plan

HSA

IRA

IRS

IRS Guidance

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. 

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

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. 

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

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. 

FuturePlan ERISA Team

Defined Contribution Plan

DOL

Health and Welfare

American Rescue Plan Act Provides Coronavirus Relief

President Biden has signed legislation that funds another round of assistance as the nation copes with the health and economic effects of the coronavirus pandemic. 

FuturePlan ERISA Team

Washington Pulse

Defined Benefit Plan

DOL

Health and Welfare

Legislative updates

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