Tag: Internal Revenue Service (IRS)

Two new IRS publications lay out important rules and clarifications for when and how to prorate compensation and benefit limits for short plan years.

An IRS compliance project found some profit sharing, including 401(k), plan sponsors did not understand when a complete discontinuance of contributions occurs.

For calendar year 2019, the annual limitation on deductions for an individual with self-only coverage under a high-deductible health plan is $3,500.

The $6,900 limitation as the maximum deductible HSA contribution for individuals with family coverage under an HDHP who contribute to an HSA will remain in effect for 2018.

The agency ended its determination letter program effective in 2017, but said it will measure the need for exceptions in a variety of ways including annual input from...

The fee has been reset to the 2017 level.

The total amount of net plan assets determines the applicable user fee now, not the number of participants.

With the passage of the Senate’s version of tax reform, the stage is set for a bicameral conference committee process through which a select group of legislators will...

The new forms include important modifications.

The guidance covers verification procedures, timely loan and hardship withdrawal repayments, and health care coverage.

Among other amendments that have already emerged in both the House and the Senate tax proposals, it seems nonqualified deferred compensation plans will more or less be left...

The tables are to be used for determining contributions to DB plans and permitted disparity in DC plan contributions.

Analysts warn it’s too soon to tell what middle ground, if any, may be reached between the House and Senate; for now 401(k) retirement plan deferrals appear to...

The agency has told examiners not to challenge plan sponsors who have taken these steps.

To qualify for this relief, hardship withdrawals must be made by March 15, 2018.

For example, the agencies hope to issue final regulations regarding qualified nonelective contributions (QNECs) and qualified matching contributions (QMACs).

It appears 401(k) contributions won’t be affected by tax reform, but one industry veteran warns the process is still only just beginning—and that tax uncertainty is “unfortunately not...

ICMA-RC says the IRS favorable letter ruling is the first to adapt the auto-enrollment rules to a governmental 457(b) plan.