Prime Interest Rate Increased to 8.00 Percent
Effective March 22, 2023, the prime interest rate increased from 7.75 percent to 8.00 percent.
Hardship Distributions May Be Permitted for Vermont Severe Storm
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 20, 2023, for severe storm and flooding in Vermont.
DOL Reopens Comment Period on Proposed QPAM Exemption
The Department of Labor (DOL) has reopened the comment period for receiving written comments related to prohibited transaction class exemption 84-14 (the Proposed QPAM Amendment) to April 6, 2023.
IRS Provides Indexing for Employer Shared Responsibility Payments
The IRS has issued Revenue Procedure 2023-17 announcing the 2024 indexed adjustments to the amounts used to calculate employer shared responsibility payments.
IRS Intends to Issue Guidance on Certain NFTs as Collectibles
The IRS has issued Notice 2023-27, announcing their intent to issue guidance related to the treatment of certain nonfungible tokens (NFTs) as collectibles under Internal Revenue Code Section (IRC Sec.) 408(m).
Biden Vetoes Resolution Disapproving DOL ESG Rule
As expected, President Biden has vetoed H.J. 30, a resolution for congressional disapproval of the Department of Labor’s rule “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”
Deadline Relief for California Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, and landslides in California.
Hardship Distributions May Be Permitted for New Hampshire Severe Storm
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2023, for severe winter storm and flooding in New Hampshire.
Hardship Distributions May Be Permitted for New York Severe Winter Storm
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2023, for severe winter storm and snowstorm in New York.
SEC Proposes Additional Requirements to Protect Consumer Financial Information
The SEC has proposed additional requirements for broker-dealers, investment companies, registered investment advisers and transfer agents.
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