Industry & Regulatory News

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 9, 2023, for severe storms, straight-line winds, flooding, landslides, and mudslides in Kentucky, for the incident period of February 15, 2023 – February 20, 2023.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 5, 2023, for severe storms, straight-line winds and tornadoes in Alabama, for the incident period of March 24, 2023 – March 27, 2023.

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.

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.

Effective May 3, 2023, the prime interest rate increased from 8.00 percent to 8.25 percent.

Senator Ted Cruz (R-TX) and co-sponsor Senator Mike Braun (R-IN) have introduced S. 1226, a bill to make permanent several individual tax provisions.

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

Senator Jeanne Shaheen (D-NH) and co-sponsor Susan Collins (R-ME) have introduced S. 1269, the INSULIN Act of 2023.

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

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