Effective February 1, 2022, the federal prime interest rate increased from 7.50 percent to 7.75 percent.
Earlier this week, President Biden announced his intent to extend the national emergency concerning the COVID-19 pandemic through May 11, 2023.
A final rule from the DOL titled “Implement SECURE Act and Related Revisions to Employee Benefit Plan Annual Reporting on the Form 5500” has left the OMB.
This credit applies to qualified plans (defined contribution and defined benefit plans under IRC Sec. 401(a) and 403(a)), and SEP and SIMPLE plans.
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding and landslides in California.
The IRS has issued Notice 2023-12, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
The IRS has issued Revenue Ruling 2023-03, which contains the applicable federal rates (AFR) for February 2023.
The PBGC has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices.
FEMA has issued a disaster declaration for severe storms, straight-line winds, and tornadoes in Alabama, for January 12, 2023.
FEMA has issued a disaster declaration for severe winter storm, straight-line winds, flooding, landslides, and mudslides in Washington, for the period of November 3, 2022 – November 8, 2022.