IRS Guidance

The IRS has announced the postponement of certain tax-related deadlines for victims of severe winter storms and snowstorms in New York.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 26, 2023, for severe storms, straight-line winds, and tornados in Mississippi, for the incident period of March 24, 2023, to March 25, 2023.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 20, 2023, for severe storm and flooding in Vermont, for the incident period of December 22, 2022, to December 24, 2022.

The IRS has issued Revenue Procedure 2023-17 announcing the 2024 indexed adjustments to the amounts used to calculate employer shared responsibility payments under Internal Revenue Code Sections 4980H(a) and 4980H(b)(1).

The IRS has issued Notice 2023-27, announcing their intent to issue guidance related to the treatment of certain nonfungible tokens (NFTs) as collectibles under Internal Revenue Code Section (IRC Sec.) 408(m).

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

The IRS has issued Revenue Ruling 2023-06, which contains the applicable federal rates (AFR) for April 2023.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on February 27, 2023, for severe winter storms and snowstorms in South Dakota, for the incident period of December 12, 2022 – December 25, 2022.

The IRS has released a proposed rule intending to clarify the use and timing of the allocation of forfeitures in qualified retirement plans.

The Department of Labor’s (DOL’s) Employee Benefits Security Administration, the IRS, and the Pension Benefit Guaranty Corporation (PBGC) have released a third and final phase that implements a September 2021 regulatory proposal.