Defined contribution plan

Senator Bill Cassidy (R-LA) has introduced S. 2217, the Independent Retirement Fairness Act.  

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and flooding in Texas until February 2, 2026. 

The Internal Revenue Service has posted an updated draft 2025 Instructions for Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts. 

Senators Bill Cassidy (R-LA), and Tim Scott (R-SC), have shared proposals that, according to a press release, would modernize federal labor law to empower 27 million independent contractors to access portable workplace benefits, like health care and retirement.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on July 6, 2025.

The IRS has posted 2025 tax year draft Form 4972.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, tornadoes, and flooding in Missouri. 

The Senate voted to approve the nomination of Ken Kies as the assistant secretary for tax policy at the Treasury by a vote of 53-45. 

The Federal Emergency Management Agency issued a Major Disaster Declaration on June 19, 2025, for Tennessee severe storms. 

The IRS has issued Revenue Ruling 2025-13 which contains the applicable federal rates (AFR) for July 2025.