News

The Department of Labor has released a prerule item titled “Pooled Employer Plans” (PEPs) to the Office of Management and Budget for review.

The IRS has posted 2025 tax year draft Form 4972.

These interest assumptions are used for valuing benefits under terminating single-employer plans. 

The Senate has passed by a vote of 51-50 its version of the tax reconciliation bill. 

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, tornadoes, and flooding in Missouri. 

The Senate voted to approve the nomination of Ken Kies as the assistant secretary for tax policy at the Treasury by a vote of 53-45. 

The Federal Emergency Management Agency issued a Major Disaster Declaration on June 19, 2025, for Tennessee severe storms. 

The IRS has issued Revenue Ruling 2025-13 which contains the applicable federal rates (AFR) for July 2025. 

The Senate Finance committee released bill text for inclusion in the Senate’s version of the budget reconciliation bill yesterday. 

The Internal Revenue Service has issued Notice 2025-35, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.