Tag: Internal Revenue Service (IRS)

The announcement provides information on all the cost-of-living adjustments affecting dollar limitations for retirement-related items in the tax year 2025.

The adjustments affect 60 tax provisions, including health flexible spending plans; tax brackets all saw income threshold increases.

Responses are requested by November 4 for the program scheduled to launch in 2027.

The GAO found numerous conflicts of interest and recommended the IRS work with the DOL to audit IRA fiduciaries.

The program, created in SECURE 2.0, addresses student loans, which are considered a significant impediment to retirement savings.

About 60 private sector companies and groups join the IRS to combat a rise in tax scams ahead of next...

RMD age increases, annuities and excise tax corrections would be codified by the proposals.

Annual required minimum distributions will be required for inherited retirement assets, come 2025, with some needing to be fully withdrawn...

ERIC and SPARK argue that the DOL’s data request goes beyond the intent of the statute and may create participant...

A review of the IRS and plan rules that can affect how participants can draw down their pre- and post-tax...

The new contribution limits take effect for 2025.

Roth contributions, natural disasters and de minimis incentives could require tax reporting changes.

The IRS notice said 2024 will likely be the last year for the relief.

The Chamber of Commerce commented to the IRS that their members are not worried about participants contributing to PLESAs solely...

Many stakeholders expressed concern with the administrative hassle of tracking the service of long-term, part-time employees and said compliance would...

The FAQ guidance builds on earlier IRS directives, with a focus on investments and fee structures.

The notice calls for stakeholders to recommend appropriate enforcement actions to prevent the gaming of employer matches on ESAs.

The grab-bag notice also provided guidance on de minimis incentives, distributions for the terminally ill and Roth matching.

The list contains many SECURE 2.0 provisions, but includes amendments stemming from other laws as well.

The one-page form marks the symbolic start of SECURE 2.0’s enhanced tax credits for small business retirement plan startups.