ERISA News

The Internal Revenue Service has released an updated 2025 tax year draft Form 990-T, Exempt Organization Business Income Tax Return. The form is used to, among other items, report unrelated business taxable income (UBTI), figure and report unrelated business income tax liability, and request a credit for certain federal excise taxes paid or for small employer health insurance premiums paid.

Representative Lloyd Doggett (D-TX) has introduced H.R. 6183, the Health Savings Account (HSA) Consumer Protection Act.

Senator Rick Scott (R-FL) has introduced S. 3264, the More Affordable Care Act. The bill would allow states to waive certain Affordable Care Act (ACA) requirements if they maintain a high-risk insurance pool.

The Internal Revenue Service has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, tornadoes, and flooding in multiple counties Missouri until March 30, 2026. The tax relief postpones various tax filing deadlines that began on March 30, 2025. Affected individuals and households who reside or have a business in Bollinger, Butler, Cape Girardeau, Carter, Cooper, Douglas, Dunklin, Howell, Iron, Madison, Maries, Mississippi, New Madrid, Oregon, Ozark, Pemiscot, Reynolds, Ripley, Scott, Shannon, Ste. Genevieve, Stoddard, Texas, Vernon, Washington, Wayne, and Webster counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

The Internal Revenue Service has issued Revenue Ruling 2025-24 which contains the applicable federal rates (AFR) for December 2025. These rates are used for such purposes as calculating distributions from retirement savings arrangements that meet the requirements for substantially equal periodic payments (a 10 percent early distribution penalty tax exception), also referred to as “72(t) payments”.

The IRS has issued Notice 2025-67, which contains the 2026 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).

The IRS has finalized the 2025 Form 8880, Credit for Qualified Retirement Savings Contributions.

The IRS released a draft 2026 Publication 15-A, Employer’s Supplemental Tax Guide (Supplement to Pub. 15, Employer’s Tax Guide). This publication, as a supplement to Publication 15, contains specialized and detailed employment tax information supplementing the basis information provided in Publication 15, including information for pensions and annuities. 

The IRS has posted another draft 2025 Form 8880, Credit for Qualified Retirement Savings Contributions.

Representatives Scott Peters (D-CA) and Norma Torres (D-CA) have introduced H.R. 5887, the Saving for the Future Act. According to a fact sheet, the bill would require employers with more than 10 workers to provide employer contributions to a savings plan of at least 50 cents per hour worked.