News

The IRS has updated previously-issued Announcement CA-2020-07, which describes the postponement of deadlines for victims of California wildfires that began on September 4, 2020.

The IRS has issued Announcement LA-2020-05, which describes the postponement of deadlines for victims of Hurricane Delta, damage from which began on October 6, 2020.

The IRS has inflation-adjusted amounts for various provisions of the Internal Revenue Code (IRC), including employer-provided welfare benefits.

The IRS has issued Notice 2020-79, which contains the 2021 retirement savings plan limitations.

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. 

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.

The IRS has posted Notice 2020-77, guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

Interest assumptions for benefit payments with valuation dates in November 2020 to be published in the October 15, 2020 Federal Register.

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 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.