Regulatory Updates

IRS Announces Deadline Relief for Alabama Victims of Hurricane Sally

The IRS has announced in News Release AL-2020-02 an extension of deadlines for completing certain time-sensitive tax-related acts for Alabama victims of Hurricane Sally. In addition to extending certain tax filing and tax payment deadlines, the relief also includes completion of many acts under Treasury Regulation 301.7508A-1(c)(1), such as completion of rollovers, making loan payments, filing Form 5500, etc.

Affected taxpayers with a covered deadline that is on, or after, September 14, 2020, and on, or before January 15, 2021, will have until January 15, 2021, to complete the act. Affected taxpayers automatically include those who reside, or have a business located, within the designated disaster area, which at this time includes Baldwin, Escambia, and Mobile counties. Affected taxpayers who reside or have a business outside the covered disaster area may contact the IRS at 866-562-5227 to request this relief.

Regulatory Updates

DOL Flips Script with ESG Proposal

DOL Flips Script with ESG Proposal

The Department of Labor (DOL) has issued a proposed rule, “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”

Regulatory Updates

2022 Taxable Wage Base Announced

2022 Taxable Wage Base Announced

The Social Security Administration has announced the 2022 adjustments for benefits and certain other limitations that are subject to annual cost-of-living adjustment (COLA) indices.