The Internal Revenue Service has announced the postponement of certain tax-related deadlines for victims of taxpayers impacted by elevated levels of lead and copper in water supply in Saint Croix, US Virgin Islands.
The IRS has released a proposed rule reflecting statutory changes made by the SECURE Act and SECURE 2.0 related to long-term, part-time employees.
The Federal Emergency Management Agency issued a disaster declaration on November 21, 2023, for California Hurricane Hilary, for the incident period of August 19-21, 2023.
The IRS has released Revenue Procedure (Rev. Proc.) 2023-37, which contains new rules for qualified pre-approved plans and 403(b) plans.
The Federal Emergency Management Agency issued a disaster declaration on November 20, 2023, for Illinois excessive rainfall.
Senator Bill Cassidy (R-LA), and co-sponsor Tim Kaine (D-VA) have introduced the “Helping Young Americans Save for Retirement Act”.
The IRS has issued Revenue Ruling 2023-21, which contains the applicable federal rates (AFR) for December 2023.
The Federal Emergency Management Agency issued a disaster declaration on November 14, 2023, for Arkansas severe storms, straight-line winds, and tornadoes for the incident period of June 25-June 26, 2023.
The Office of Management and Budget has received a final rule from the Department of Labor titled “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager”.
The proposed rule expands the definition of fiduciary; requires that advice being given to a broader range of retirement investors meet fiduciary standards; and treats more rollover recommendations as fiduciary advice.