IRA

Senators John Barrasso (R-WY) and Michael Bennet (D-CO) have introduced the Retirement Rollover Flexibility Act.

Senators Cory Booker (D-NJ) and Todd Young (R-IN), along with Representatives Eugene Vindman (D-VA) and Glenn Thompson (R-PA) have introduced bi-cameral legislation, the Emergency Savings Enhancement Act.

The Internal Revenue Service has issued a draft Form 4547, Trump Account Election(s), and accompanying draft Instructions.

The Internal Revenue Service has released 2025 draft Instructions for Form 8606, Nondeductible IRAs.

The Internal Revenue Service (IRS) has posted 2025 Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts.

Representative Randy Fine (R-FL) has introduced H.R. 6084, the ERISA Litigation Reform Act. In a press release, Congressman Fine emphasized that this legislation strengthens retirement plan governance, reduces unnecessary legal costs, and protects the millions of workers who rely on employer-sponsored plans for their financial future.

The Internal Revenue Service (IRS) has posted an updated draft 2025 Instructions for Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, following last month’s release of the draft 2025 Form 5329.

The IRS released an updated draft 2026 Publication 15-A, Employer’s Supplemental Tax Guide (Supplement to Pub. 15, Employer’s Tax Guide).

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.

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.