IRA

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.

February 07 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.

February 05 2024

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.

January 31 2024

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.

January 31 2024

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.

January 24 2024

Industry & Regulatory News

Washington Pulse: IRS Releases Guidance on SECURE 2.0 Provisions

The Internal Revenue Service (IRS) has released Notice 2024-02, which provides guidance in a question and answer format regarding several provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0).

January 18 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Rhode Island Severe Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 7, 2024 for Rhode Island severe storms, flooding, and tornadoes, for the incident period of September 10 – September 13, 2023.

January 18 2024

Industry & Regulatory News

IRS Announces Applicable Federal Rates for February

The IRS has issued Revenue Ruling 2024-03, which contains the applicable federal rates (AFR) for February 2024.

January 17 2024

Industry & Regulatory News

OMB Completes Review of DOL Automatic Portability Exemption Proposal

A Department of Labor (DOL) proposed rule titled Exemption for Certain Automatic Portability Transactions has been removed from the Office of Management and Budget’s list for review, signaling that it may be released soon.

January 17 2024

Industry & Regulatory News

DOL Issues Final Rule to Clarify Employee or Independent Contractor Status

The Department of Labor (DOL) Wage and Hour Division has issued a news release and final rule to clarify whether a worker qualifies as an employee or an independent contractor under the Fair Labor Standards Act.

January 09 2024