IRS

The IRS has issued Revenue Ruling 2023-21, which contains the applicable federal rates (AFR) for December 2023.

The IRS has issued Revenue Procedure 2023-34, which contains cost-of-living adjustments for taxable years beginning in 2024 for over 60 tax provisions, including cafeteria plans.

The IRS has issued Notice 2023-75, which contains the 2024 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).

The IRS has issued Notice 2023-73, specifying the mortality table used in determining minimum present value under IRC 417(e)(3) and ERISA section 205(g)(3).

The Internal Revenue Service (IRS) has issued Notice 2023-72, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

The Internal Revenue Service (IRS) has released final regulations titled “Mortality Tables for Determining Present Value under Defined Benefit Pension Plans”.

The IRS has issued its 2023-2024 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.

In a recent issue of the Employee Plans News, the IRS has announced the update of several forms used to submit Voluntary Correction Program applications to the IRS.

The IRS has issued Notice 2023-66, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

The IRS has issued Revenue Ruling 2023-18, which contains the applicable federal rates (AFR) for October 2023.