Proposed legislation would permit tax-free retirement savings distributions of up to $2,500 per year—indexed for inflation—that are used to purchase long-term care insurance.
The DOL has posted a final rule regarding guidance initially focused on restricting the use of environmental, social, and governance (ESG) investments.
Richard Neal (D-MA) and Kevin Brady (R-TX) have introduced the Securing a Strong Retirement Act of 2020, described as building on major retirement legislation enacted in December 2019.
The IRS has updated previously-issued Announcement CA-2020-07, which describes the postponement of deadlines for victims of California wildfires that began on September 4, 2020.
The IRS has issued Announcement LA-2020-05, which describes the postponement of deadlines for victims of Hurricane Delta, damage from which began on October 6, 2020.
The IRS has issued Notice 2020-79, which contains the 2021 retirement savings plan limitations.
The IRS has issued modified guidance for taxpayers to self-certify their eligibility for an extension of the 60-day deadline to complete an otherwise-eligible rollover.
The IRS has issued guidance for qualified retirement plans that escheat certain accounts of unresponsive or missing participants or beneficiaries to state unclaimed property funds.
The Social Security Administration has announced the 2021 adjustments for benefits and certain other limitations that are subject to annual cost-of-living adjustment (COLA) indices.
Treasury and SBA have announced a “simpler” version of the form used by recipients of Paycheck Protection Program (PPP) business loans of $50,000 or less to request loan forgiveness.