IRS

Industry & Regulatory News

Retirement Spotlight: Proposed Regulations Govern Making Participant Elections and Spousal Consents Electronically

The coronavirus pandemic resulted in restrictions on where and how people could meet. These limitations—including remote work requirements—made it harder for some participants to take distributions from employer-sponsored retirement plans.

June 13 2023

Industry & Regulatory News

403(b) Plan Determination Program Opens June 1

The IRS provided a reminder in the May 24, 2023, edition of Employee Plans News that beginning June 1, 2023, the IRS is expanding the determination letter program to include individually designed and terminating 403(b) plans.

May 30 2023

Industry & Regulatory News

IRS Provides EPCRS Guidance Related to SECURE 2.0

The IRS has issued Notice 2023-43 to address questions and provide interim guidance related to Section 305 of SECURE 2.0.

May 25 2023

Industry & Regulatory News

2024 HSA Limits Released

The IRS has issued Revenue Procedure 2023-23, providing inflation-adjusted amounts for health savings accounts (HSAs) for calendar year 2024.

May 17 2023

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The IRS has issued Notice 2023-40, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

May 15 2023

Industry & Regulatory News

IRS Invites Recommendations for Priority Guidance Plan

The Department of the Treasury and the Internal Revenue Service are soliciting recommendations for items to be included on the 2023-2024 Priority Guidance Plan.

May 05 2023

Industry & Regulatory News

IRS Announces Deadline Relief for California Severe Winter Storms

The IRS has announced the postponement of certain tax-related deadlines for victims of severe winter storms, straight-line winds, flooding, landslides, and mudslides in California.

May 05 2023

Industry & Regulatory News

Washington Pulse: IRS Releases Proposed Forfeiture Guidance

The IRS recently released proposed regulations regarding the use of forfeitures within qualified retirement plans.

May 03 2023

Industry & Regulatory News

IRS Announces Deadline Relief for Florida Severe Storms, Tornadoes, and Flooding

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, tornadoes, and flooding in Florida.

May 02 2023
IRS

Industry & Regulatory News

IRS Releases Draft Instructions for Determination Filings of Modified Nonstandardized Pre-Approved Plans

The IRS has published a June 2023 draft of instructions for Form 5307, Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans.

May 02 2023
IRS