IRA

Industry & Regulatory News

Build Back Better Bill Passes House, Moves to Senate

The House of Representatives passed the $1.9 trillion Build Back Better bill in a 220-213 near party line vote. The House-passed version of the bill contains several IRA provisions, including

November 19 2021

Industry & Regulatory News

Infrastructure Bill Heads to President for Signature

The much-anticipated Infrastructure Investment and Jobs Act (the Act) has passed the House of Representatives months after its approval in the Senate. The legislation contains the following noteworthy provisions.

November 10 2021

Industry & Regulatory News

IRS Postpones Requirement to Use Updated Forms W-4P and W-4R Until 2023

The IRS has issued a fourth draft of the 2022 Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments. In it, the IRS indicates that while final versions of the redesigned Form W-4P and Form W-4R will be released for 2022, based on comments received on prior drafts from stakeholders, the IRS will postpone requirements to begin using the redesigned forms until January 1, 2023. Payors should update their system programming for these new forms but may otherwise continue to use the 2021 Form W-4P.

November 05 2021

Industry & Regulatory News

2022 Retirement Savings Limitations Released

The IRS has issued Notice 2021-61, which contains the following 2022 retirement savings limitations.

November 04 2021

Industry & Regulatory News

IRS Issues Deadline Relief for Hurricane Ida Victims in Connecticut

The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of Hurricane Ida in Connecticut. The tax relief postpones various tax filing deadlines that began September 1, 2021. Affected individuals and households who reside or have a business in Fairfield and New London counties including the Mashantucket Pequot Tribal Nation and Mohegan Tribal Nation, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

November 04 2021

Industry & Regulatory News

IRS Issues Deadline Relief for Hurricane Ida Victims in Mississippi

The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of Hurricane Ida in Mississippi. The tax relief postpones various tax filing deadlines that began August 28, 2021. Affected individuals and households who reside or have a business in Amite, Claiborne, Copiah, Covington, Franklin, George, Hancock, Harrison, Jackson, Jefferson, Jefferson Davis, Lawrence, Lincoln, Pearl River, Pike, Simpson, Walthall, Wayne, and Wilkinson counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

October 27 2021

Industry & Regulatory News

Proposed House Budget Reconciliation Amendment Includes IRA Restrictions

The House Ways and Means Committee has released additional legislative text as part of its tax portion of the anticipated $3.5 trillion budget reconciliation bill. If enacted, the proposal would impose several restrictions on IRAs.

September 17 2021

Industry & Regulatory News

IRS Issues Deadline Relief for Hurricane Ida Victims in Pennsylvania

The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of Hurricane Ida in Pennsylvania. The tax relief postpones various tax filing deadlines that began August 31, 2021. Affected individuals and households who reside or have a business in Bucks, Chester, Delaware, Montgomery, Philadelphia, and York counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

September 14 2021

Industry & Regulatory News

IRS Issues Deadline Relief for Tropical Storm Fred Victims in North Carolina

The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of Tropical Storm Fred in North Carolina. The tax relief postpones various tax filing deadlines that began August 16, 2021. Affected individuals and households who reside or have a business in Avery, Buncombe, Haywood, Madison, Transylvania, Watauga, and Yancey counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

September 13 2021

Industry & Regulatory News

IRS Issues Deadline Relief for Hurricane Ida Victims in Mississippi

The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of Hurricane Ida in Mississippi. The tax relief postpones various tax filing deadlines that began August 28, 2021. Affected individuals and households who reside or have a business in all counties in Mississippi and the Mississippi Choctaw Indian Reservation, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines qualify for relief.

September 10 2021