2023 Taxable Wage Base Announced
The Social Security Administration has announced the 2023 adjustments for benefits and certain other limitations that are subject to annual cost-of-living adjustment (COLA) indices.
Proposed Rule Updating Employee Classification Under FLSA
The DOL Wage and Hour Division has released a proposed rule titled Employee or Independent Contractor Classification Under the Fair Labor Standards Act that is scheduled to be published on October 13, 2022.
IRS Announces Targeted RMD Relief for Certain 2021 and 2022 Beneficiary Distributions under SECURE Act
The IRS has released Notice 2022-53, announcing its intent to issue final regulations related to RMDs that will apply no earlier than the 2023 distribution calendar year.
IRS Requests Comments on Form 5558 Revisions
The IRS has issued a notice and request for comments related to Form 5558, Application for Extension of Time to File Certain Employee Plan Returns.
Deadline Relief for South Carolina Victims of Hurricane Ian
The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Ian in South Carolina.
Deadline Relief for North Carolina Victims of Hurricane Ian
The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Ian in North Carolina.
Hardship Distributions May Be Permitted for North Carolina Hurricane Ian
The Federal Emergency Management Agency (FEMA) has issued a disaster declaration for North Carolina Hurricane Ian, beginning September 28, 2022.
Deadline Relief for Florida Victims of Hurricane Ian
The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Ian in Florida.
Hardship Distributions May Be Permitted for South Carolina Hurricane Ian
The Federal Emergency Management Agency (FEMA) has issued a disaster declaration for South Carolina Hurricane Ian, beginning September 25, 2022.
Retirement Savings Modernization Act Introduced
Senators Tim Scott (R-SC), and Pat Toomey (R-PA), along with Representative Peter Meijer (R-MI), have introduced the Retirement Savings Modernization Act in the Senate and House respectively.
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