President Biden has signed into law the American Rescue Plan Act one day after the House of Representatives voted to pass the amended package. Several provisions directly affect tax-advantaged savings arrangements.
Regulatory and Legislative
Department of Labor guidance titled “Amendment of Abandoned Plan Program” that has been with the Office of Management and Budget since last July, has left OMB.
Regulatory and Legislative
IRS Notice 2024-35 states that final RMD regulations, when released, are anticipated to apply no earlier than the 2025 distribution calendar year.
Regulatory and Legislative
The IRS has issued Revenue Ruling 2024-09, which contains the applicable federal rates (AFR) for May 2024.
