Deadline Relief for Island of St. Croix, U.S. VI
The IRS has announced the postponement of certain tax-related deadlines for victims of a water shortage and health impact from unprecedented sargassum seagrass influx on the island of St. Croix, U.S. Virgin Islands.
Temporary Waiver of RMDs Proposed in House
Representative Warren Davidson (R-OH) has introduced HR 8331, a bill that would provide for a suspension of RMDs from retirement plans and IRAs for the 2022 calendar year.
Proposed Amendment for QPAM Exemptions Has Left OMB
A Proposed Rule titled “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager” (QPAM) has left the Office of Management and Budget.
Senate Finance Committee Advances EARN Act
The Senate Finance Committee conducted a hearing today to consider the Enhancing American Retirement Now (EARN) Act.
IRS Relief for New Mexico Wildfire and Wind Victims
The IRS announced the postponement of certain tax-related deadlines for victims of wildfires and straight-line winds in New Mexico.
IRS Releases Revised 2021 Publication 590-B
The IRS has issued a revised 2021 Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).
DOL Launches Roundtable Discussions on Retirement
The Department of Labor (DOL) has kicked off what is to be a series of roundtable discussions on how to improve retirement security for workers.
IRA Bankruptcy Exemption Increases
Effective April 1, 2022, the maximum aggregate bankruptcy exemption amount for IRAs increased from $1,362,800 to $1,512,350.
IRS Announces Applicable Federal Rates for May 2022
The IRS has issued Revenue Ruling 2022-9, which contains the applicable federal rates (AFR) for May 2022.
U.S. House Passes Significant Retirement Bill
The U.S. House of Representatives passed the Securing a Strong Retirement Act of 2022 (SSRA) by a 414-5 vote on March 29, 2022.
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