IRS
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Rhode Island Severe Storms and Flooding
The Federal Emergency Management Agency (FEMA) issued disaster declaration 4765 and 4766 on March 20, 2024, for Rhode Island severe storms and flooding, for the incident periods of December 17-19, 2023, and January 9-13, 2024.
Industry & Regulatory News
IRS Issues Yield Curves and Segment Rates for DB Plan Calculations
The Internal Revenue Service has issued Notice 2024-29, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Industry & Regulatory News
IRS Announces Applicable Federal Rates for April
The IRS has issued Revenue Ruling 2024-07, which contains the applicable federal rates (AFR) for April 2024.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Alaska Severe Storm, Landslides, and Mudslides
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2024, for Alaska severe storm, landslides, and mudslides, for the incident period of November 20, 2023.
Industry & Regulatory News
IRS Issues Reminder on Appropriate FSA and HSA Medical Expenses
The IRS has released an alert reminding taxpayers that personal expenses for general health and wellness are not considered medical expenses for flexible spending account (FSA) and health savings account (HSA) purposes, and that reimbursement of non-medical expenses results in the arrangement no longer being qualified and all disbursements being includible in income.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Vermont Severe Storms and Flooding (2)
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 2, 2024, for Vermont R1 severe storms and flooding, for the incident period of December 18 – December 19, 2023.
Industry & Regulatory News
IRS Announces Deadline Relief for Spokane Area Wildfires
The IRS has announced the postponement of certain tax-related deadlines for victims of wildfires in the Spokane, Washington, area.
Industry & Regulatory News
IRS Announces Deadline Relief for Severe Storms in San Diego
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in San Diego, California.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for New Hampshire Severe Storm
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on February 27, 2024, for New Hampshire severe storm and flooding, for the incident period of December 17 – December 21, 2023.
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.