IRS

Industry & Regulatory News

DOL Provides Additional Relief for Participants Impacted by Helene and Milton

The Department of Labor (DOL), in conjunction with the Joint Notice from the Treasury Department, announced yesterday, that is extending certain specified timeframes for participants and beneficiaries in regard to special enrollment, COBRA, claims procedures, and external review processes for health coverage and other employer benefits, has issued additional guidance and further relief for participants of employee benefit plans affected by Hurricanes Helene and Milton.

November 08 2024

Industry & Regulatory News

DOL and Treasury Provide Certain Deadline Relief to Retirement and Health Plans and Participants

The Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) and the Internal Revenue Service (IRS) will publish an Extension of Certain Timeframes for Employee Benefit Plans, Participants, Beneficiaries, Qualified Beneficiaries, and Claimants Affected by Hurricane Helene, Tropical Storm Helene, or Hurricane Milton in the Federal Register on November 8, 2024.

November 07 2024

Industry & Regulatory News

IRS Announces Deadline Relief for Havasupai Tribe in Arizona Flooding

The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in the Havasupai Tribe in Arizona until February 3, 2025.

November 07 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Florida Hurricane Milton

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on November 5, 2024, for Seminole Tribe of Florida Hurricane Milton, for the incident period of October 5 and continuing. 

November 06 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available in New Mexico and South Dakota

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on November 1, 2024, for the following locations:

November 04 2024

Industry & Regulatory News

IRS Announces Deadline Relief for Alaska Flooding

The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in Alaska until May 1, 2025. The tax relief postpones various tax filing deadlines that began on August 5, 2024.

November 01 2024

Industry & Regulatory News

IRS Releases 2025 Cost-of-Living Adjusted Retirement Savings Limitations

The IRS has issued Notice 2024-80, which contains the 2025 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).

November 01 2024

Industry & Regulatory News

Washington Pulse: IRS Releases Guidance for LTPT Employees of ERISA 403(b) Plans

The Internal Revenue Service (IRS) recently issued Notice 2024-73, providing guidance regarding the participation of long-term, part-time (LTPT) employees in 403(b) plans subject to Title I of the Employee Retirement Income Security Act (ERISA).

October 31 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Virgin Islands Tropical Storm Ernesto

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on October 25, 2024, for Virgin Islands Tropical Storm Ernesto, for the incident period of August 13 – August 16, 2024. 

October 28 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available in Nebraska and New York

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on October 21, 2024, for the following locations:

October 22 2024