IRA
Industry & Regulatory News
IRS Delays Electronic Filing Requirement for Form 1042
The IRS has issued Notice 2024-26, providing an administrative exemption from the electronic filing requirement for Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, otherwise required to be electronically filed in calendar year 2024.
Industry & Regulatory News
IRS Announces Deadline Relief for Michigan Severe Storms, Tornadoes, and Flooding
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, tornadoes and flooding in Michigan.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for California Severe Storm and Flooding (1)
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on February 19, 2024, for California severe storm and flooding, for the incident period of January 21, 2024–January 23, 2024.
Industry & Regulatory News
IRS Announces Applicable Federal Rates for March
The IRS has issued Revenue Ruling 2024-04, which contains the applicable federal rates (AFR) for March 2024.
Industry & Regulatory News
IRS Announces Deadline Relief for West Virginia
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, landslides, and mudslides in West Virginia.
Industry & Regulatory News
Representative Neal Introduces Automatic IRA Act of 2024 Bill
Representative Richard Neal (D-MA), House Ways and Means Committee Ranking Member, has introduced the Automatic IRA Act of 2024.
Industry & Regulatory News
Retirement Spotlight: IRS Releases Final Guidance on Penalty Exceptions for Failure to File Correct Information Returns or Furnish Payee Statements
The Internal Revenue Service (IRS) has released final regulations that provide de minimis error safe harbor exceptions to penalties for failure to file correct information returns or furnish correct payee statements.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Maine
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 30, 2024, for Maine severe storms and flooding, for the incident period of December 17, 2023 – December 21, 2023.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for West Virginia
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 30, 2024, for West Virginia severe storms, flooding, landslides, and mudslides, for the incident period of August 28, 2023 – August 30, 2023.
Industry & Regulatory News
IRS Announces Deadline Relief for Severe Storms in Connecticut
The IRS has announced the postponement of certain tax-related deadlines for victims in parts of Connecticut affected by severe storms, flooding, and a potential dam breach.