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IRS Guidance

Industry & Regulatory News

IRS Announces Deadline Relief for New Mexico Storms

The IRS has announced the postponement of certain tax-related deadlines for victims of New Mexico storms, flooding, and landslides until February 2, 2026.

July 18 2025

Industry & Regulatory News

IRS Issues Uncashed Check Withholding Guidance

The IRS has issued Revenue Ruling 2025-15, offering detailed guidance on how to handle federal tax withholding and reporting when retirement plan distribution checks go uncashed and must be reissued.

July 17 2025

Industry & Regulatory News

IRS Announces Deadline Relief for Texas Storms and Flooding

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and flooding in Texas until February 2, 2026.

July 10 2025

Industry & Regulatory News

Kies Confirmed as Assistant Secretary for Tax Policy

The Senate voted to approve the nomination of Ken Kies as the assistant secretary for tax policy at the Treasury by a vote of 53-45.

June 27 2025

IRS Announces Deadline Relief for Missouri Storms

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, tornadoes, and flooding in Missouri until November 3, 2025.

June 27 2025

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Tennessee Storms

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on June 19, 2025, for Tennessee severe storms, straight-line winds, tornadoes and flooding, for the incident period of April 2 – April 24, 2025. 

June 23 2025

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The Internal Revenue Service (IRS) has issued Notice 2025-35, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

June 13 2025

Industry & Regulatory News

IRS Announces Applicable Federal Rates for June

The IRS has issued Revenue Ruling 2025-12 which contains the applicable federal rates (AFR) for June 2025.

May 16 2025

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Arkansas Storms

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 8, 2025, for Arkansas severe storms and tornadoes, for the incident period of March 14-15, 2025.

May 14 2025

Industry & Regulatory News

IRS Provides Guidance on Substitute Mortality Tables

The Internal Revenue Service has released Revenue Procedure (Rev. Proc.) 2025-21, which provides guidance on plan-specific substitute mortality tables used to determine the present value for defined benefit plans subject to funding requirements under IRC. Sec. 430. The revenue procedure modifies Section 12.02 of Rev. Proc. 2024-32, which specifies when certain plan sponsors are required to terminate the use of plan-specific mortality tables. Rev. Proc. 2025-21 provides relief for certain plan sponsors by narrowing the category of plan sponsors that are required to request approval of new plan-specific substitute mortality tables.

May 07 2025
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