Tag: Internal Revenue Service (IRS)

The IRS is offering a new correction method for retirement plan sponsors that miss the deadline.

When working with tribal nations, building a solid relationship is the first and most important step.

The IRS now and again seeks industry input on what tax guidance to issue next, via its Priority Guidance Plan program. 

New research from Charles Schwab suggests tax season drives investors to focus more on financial planning and wealth management. 

The IRS says if a benefit formula applies solely to a highly compensated employee who is identified by name, it does not apply to a reasonable business classification.

The IRS has been accused of mismanagement of its VCP program.

Instructions from the IRS now tell plan sponsors to skip them.

New tool from Jackson and Morningstar offers advisers the ability to create client-specific tax illustrations in real time. 

Retirement plan advisers can assist plan sponsors in boosting awareness of the Saver’s Credit.

The IRS proposal would provide guidance about any employer that has withdrawn from the plan and entered into a “make-whole” agreement to provide participant benefits.

The agency is hosting a webinar about the 2015 Cumulative List.

The guidance includes prohibited changes to a safe harbor retirement plan.

The proposed rule will help closed DB plans continue to satisfy minimum coverage and other testing requirements.

The IRS has issued updated procedures for requesting letter rulings and has made changes to VCP fees.

The agency has added references to 403(b) pre-approved plans in its user fee guidance.

The IRS is making changes to the program in anticipation of its elimination.

The list of changes in plan qualification requirements is used by retirement plan sponsors and practitioners submitting determination letter applications for their plan documents.

Questions about compliance are optional, at least for now, and plan leakage is a new area of scrutiny.

Employee plans division leadership at the Internal Revenue Service candidly admits worsening budget constraints are making its job more difficult.