2022 IRS Form 1042-S Released
The IRS has posted the 2022 tax year version of Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding.
2022 Tax Year IRA and Retirement Plan Reporting Forms 1099-R, 5498
The IRS has posted at its website the 2022 tax year version of Form 1099-R and Form 5498.
Proposed Bill Would Provide Permanent Distribution Relief
Representatives Mike Thompson and Mike Kelly have introduced a bipartisan bill that would make permanent automatic retirement plan and IRA tax relief in connection with federally declared disasters.
IRS Issues Draft Instructions for Reporting of Qualified Disaster Distributions
The IRS has provided draft Instructions for Form 8915-F, Qualified Disaster Retirement Plan Distributions and Repayments.
IRS Issues Required Amendments List
The IRS has released Notice 2021-64 containing the 2021 required amendments list.
House Passes the Build Back Better Act
On November 19, 2021, the U.S. House of Representatives passed H.R. 5376, the Build Back Better Act (“BBB Act” or “the Act”).
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2021-62, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Build Back Better Bill Passes House, Moves to Senate
The House of Representatives passed the Build Back Better bill. The House-passed version of the bill contains several IRA provisions.
Infrastructure Bill Signed into Law
The Infrastructure Act includes additional pension funding relief, disaster relief changes, and new digital asset reporting requirements.
IRS Announces Online Tool to Validate Form 1042-S Data
The IRS has announced the launch of a new online tool designed to assist U.S. withholding agents in complying with their reporting and withholding obligations with respect to Form 1042-S.
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