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Internal Revenue Service › Savings Accounts

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Miller Canfield

Federal Agencies Issue PLESA Guidance

Miller Canfield on

The IRS and the U.S. Department of Labor recently issued guidance which addresses the newly created Pension Linked Emergency Savings Accounts (“PLESAs”), a novel plan design option authorized under SECURE 2.0. PLESAs are...more

Mitchell, Williams, Selig, Gates & Woodyard,...

IRS Issues New Rules on ABLE Savings Programs

Mitchell, Williams, Selig, Gates & Woodyard,... on

The IRS has issued proposed regulations related to § 529A of the Internal Revenue Code (the “Code”), which allows a State (or its agency or instrumentality) to establish and maintain a tax-advantaged savings program under...more

Holland & Knight LLP

A Tribal Financial Executive’s Guide to Deferred Per Capita Plans

Holland & Knight LLP on

With the top tax bracket at nearly 40 percent, Indian tribes making substantial per capita distributions are asking what they can do to reduce their members’ tax liabilities. One option to consider is a deferred per capita...more

Cole Schotz

The ABLE Act

Cole Schotz on

Although the Achieving a Better Life Experience Act (or ABLE Act) was signed into law on December 19, 2014, many states have been waiting to offer ABLE accounts authorized by the Act until the IRS published regulations. The...more

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