IRS Issues Updates for DB Plan Calculations
The IRS has issued Notice 2021-16, which contains updated guidance on factors used in certain defined benefit (DB) pension plan calculations.
IRS Posts 2020 Tax Year Health Savings Arrangement Publication
The IRS has posted the 2020 tax year Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans.
New IRS Guidance for Federally Declared Disasters
At the end of 2019, the IRC was amended to create a mandatory 60-day postponement for certain federal tax-related deadlines in the event of a disaster.
DOL Confirms Effective Date for Investment Advice PTE
The DOL’s EBSA has confirmed that prohibited transaction exemption 2020-02 entitled, “Improving Investment Advice for Worker & Retirees,” will take effect on February 16.
Pandemic Relief Package Includes Benefit Provisions
Legislation proposed by the House Ways and Means Committee to provide pandemic relief includes several items that would affect retirement and health benefits.
DOL Proposes Delay for Independent Contractor Regulations
The DOL Wage and Hour Division has proposed a delay of the effective date for final regulations on independent contractor status.
IRS Updates FAQs on Tax Credits for COVID-Related Leave
On January 28, 2021, the IRS posted updated FAQs on COVID-19-related employer tax credits for paid leave that is provided by certain businesses.
IRS Releases Final QPLO Regulations
Plan participants have more time to roll over certain plan loan offsets under the Tax Cuts & Jobs Act of 2017 (TCJA).
Public Hearing for Proposed Regulations on Federally Declared Disasters
Published in the Federal Register is an IRS notice of public hearing on proposed regulations for automatic 60-day postponement of certain deadlines following federally declared disasters.
DOL Releases Final PTE on Investment Advice
The DOL addresses how financial organizations or professionals can receive certain compensation that would otherwise violate the prohibited transaction rules.
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