ira

IRS Final Rule on Electronic Filing Requirements has left OMB

A final rule from the IRS titled “Electronically Filed Returns” has left The Office of Management and Budget.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

Congress Approves Appropriations Bill, Containing the SECURE 2.0 Act of 2022, President’s Signature Expected

The House of Representatives has passed the Consolidated Appropriations Act of 2023, HR 2617, today with a 225-201-1 vote.

FuturePlan ERISA Team

Washington Pulse

SECURE 2.0

529 account

ABLE Account

Defined Contribution Plan

IRA

Legislative updates

Senate Approves Appropriations Bill, Containing the SECURE 2.0 Act of 2022

The House will now take up CAA 2023 with voting anticipated to take place as early as this evening.

FuturePlan ERISA Team

SECURE 2.0

529 account

ABLE Account

Defined Contribution Plan

IRA

Legislative updates

Government Funding Bill, Containing SECURE 2.0, Released

Senate Appropriations Committee Chairman Patrick Leahy (D-VT) has released HR  2617, the Consolidated Appropriations Act of 2023.

FuturePlan ERISA Team

529 account

ABLE Account

Defined Contribution Plan

IRA

Legislative updates

SECURE 2.0

IRS Announces Applicable Federal Rates for January 2023

The IRS has issued Revenue Ruling 2023-1, which contains the applicable federal rates (AFR) for January 2023.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

How IRS Notice 2022-53 Affects Beneficiaries

IRS will not enforce 50% excess accumulation penalty tax for certain beneficiaries.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

Hardship Distributions May Be Permitted for South Carolina Hurricane Ian

The Federal Emergency Management Agency (FEMA) has issued a disaster declaration for Hurricane Ian in South Carolina, beginning September 25, 2022, and ending October 4, 2022.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

IRA

Deadline Relief for Illinois Victims of Severe Storms

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storm and flooding in Illinois.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

IRS Announces Applicable Federal Rates for December 2022

The IRS has issued Revenue Ruling 2022-22, which contains the applicable federal rates (AFR) for December 2022.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

IRS Priority Guidance Plan Includes Retirement Items

The IRS has issued its 2022-2023 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

IRA

No Results