IRS

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on January 15, 2025, for Alaska severe storm and flooding, for the incident period of October 20 – October 23, 2024.

The Internal Revenue Service has issued a proposed rule under IRC  Sec.162(m) to identify “covered employees” and nondeductible compensation following the expansion of 162(m) to include non-officers under the American Rescue Plan Act of 2021.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on January 10, 2025, for the following.

The IRS has announced the postponement of certain tax-related deadlines for victims of California affected by wildfires and straight-line winds until October 15, 2025. The tax relief postpones various tax filing deadlines that began on January 7, 2025.

The Internal Revenue Service (IRS) has released proposed automatic enrollment regulations that apply to certain retirement plans as provided by Sections 101 and 341 of the SECURE 2.0 Act of 2022.

The Internal Revenue Service (IRS) has released proposed catch-up regulations that apply to certain retirement plans as provided by Sections 109, 117, and 603 of the SECURE 2.0 Act of 2022.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on January 8, 2025, for California wildfires and straight-line winds, for the incident period of January 7 and continuing. 

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on January 1, 2025, for the following disasters for the period indicated.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on December 24, 2024, for North Dakota wildfires and straight-line winds, for the incident period of October 5 – October 6, 2024. 

The Internal Revenue Service (IRS) issued Revenue Ruling 2025-2, containing the covered compensation tables for the 2025 plan year.