IRS

Industry & Regulatory News

IRS Issues Memorandum Addressing Medical Expense Substantiation

The Internal Revenue Service (IRS) recently released a memorandum from the Office of the Chief Counsel addressing claims substantiation for payment or reimbursement of medical and dependent care expenses.

May 02 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storms, Straight-line Winds, and Tornadoes

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 24, 2023, for Oklahoma severe storms, straight-line winds, and tornadoes, for the incident period of April 19, 2023 – April 20, 2023.

April 25 2023

Industry & Regulatory News

IRS Announces Deadline Relief for Oklahoma Severe Storms, Straight-line Winds, and Tornadoes

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and tornadoes in Oklahoma. The tax relief postpones various tax filing deadlines that began on April 19, 2023. Affected individuals and households who reside or have a business in McClain and Pottawatomie counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

April 25 2023

Industry & Regulatory News

IRS Announces Cycle 4 Pre-approved Plan Submission Period

The April 20, 2023, publication of Employee Plans News provides details for plan document restatement deadlines.

April 21 2023

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The IRS has issued Notice 2023-33, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

April 20 2023

Industry & Regulatory News

IRS Announces Deadline Relief for Indiana Severe Storms, Straight-line Winds and Tornadoes

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and tornadoes in Indiana.

April 18 2023
IRS

Industry & Regulatory News

IRS Posts 2023 Draft Form 8889 for HSA Reporting

The IRS has posted a draft 2023 tax year Form 8889, Health Savings Accounts (HSAs).

April 18 2023

Industry & Regulatory News

IRS Announces Applicable Federal Rates for May 2023

The IRS has issued Revenue Ruling 2023-09, which contains the applicable federal rates (AFR) for April 2023.

April 18 2023
IRS

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Indiana Severe Storms, Straight-line Winds, and Tornadoes

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 15, 2023, for severe storms, straight-line winds, and tornadoes in Indiana, for the incident period of March 31, 2023, – April 1, 2023.

April 17 2023

Industry & Regulatory News

DOL, IRS and HHS Release FAQs about ACA and CARES Implementation

The DOL, IRS and HHS (“the Departments”) have released a set of FAQs that explain their position on coverage of preventive services and vaccines in light of a recent court decision.

April 14 2023