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Industry & Regulatory News
Proposal Expanding Disaster Relief to State Declared Disasters Passes Committee
Representatives David Kustoff (R-TN) and Judy Chu (D-CA) previously introduced H.R. 517 the Filing Relief for Natural Disasters Act. The bill would allow the governor of a state or territory to extend a federal tax filing deadline in the event of a state-declared emergency or disaster, which happens automatically for federally declared disasters.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storms, Straight-line Winds, Tornadoes, and Flooding
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on March 18, 2025, for Oklahoma Severe Storms, Straight-line Winds, Tornadoes, and Flooding, for the incident period of November 2, 2024 – November 5, 2024.
Industry & Regulatory News
IRS Announces Deadline Relief for West Virginia Storm Victims
The IRS has announced the postponement of certain tax-related deadlines for victims of West Virginia severe storms, straight-lined winds, flooding, landslides and mudslides until November 3, 2025. The tax relief postpones various tax filing deadlines that began on February 15, 2025. Affected individuals and households who reside or have a business in Logan, McDowell, Mercer, Mingo, Wayne and Wyoming counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.
Industry & Regulatory News
IRS Announces Applicable Federal Rates for April
The IRS has issued Revenue Ruling 2025-08 which contains the applicable federal rates (AFR) for April 2025.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for West Virginia Storms
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on February 26, 2025, for West Virginia severe storm, straight-line winds, flooding, landslides and mudslides, for the incident period of February 25, 2025, and continuing.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Kentucky Storms
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on February 24, 2025, for Kentucky severe storms, straight-line winds, flooding, landslides and mudslides, for the incident period of February 14, 2025 and continuing.
Industry & Regulatory News
IRS Announces Deadline Relief for Kentucky Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of Kentucky severe storms, straight-line winds, flooding, and landslides until November 3, 2025. The tax relief postpones various tax filing deadlines that began on February 14, 2025. Affected individuals and households who reside or have a business in the entire state of Kentucky, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.
Industry & Regulatory News
IRS Announces Applicable Federal Rates for March
The IRS has issued Revenue Ruling 2025-06 which contains the applicable federal rates (AFR) for March 2025.
Industry & Regulatory News
Proposal Expanding Disaster Relief to State Declared Disasters Introduced
Senator Catherine Cortez Masto along with several cosponsors has introduced S. 132, the Filing Relief for Natural Disasters Act.
Industry & Regulatory News
Washington Pulse: IRS Releases Proposed Regulations on SECURE 2.0 Catch-Up Provisions
The Internal Revenue Service (IRS) has issued proposed regulations providing guidance for employers regarding new provisions on catch-up contributions as permitted by the SECURE 2.0 Act of 2022 (SECURE 2.0).