The IRS issued guidance on Friday, August 25, 2023, under Section 603 of the SECURE 2.0 Act of 2022, which requires age-based catch-up contributions by high-paid employees to a 401(k), 403(b), or governmental 457(b) plan to...more
Summary -
On December 29, 2022, President Biden signed into law the SECURE 2.0 Act of 2022 (the Act) as part of the Consolidated Appropriations Act, 2023. SECURE 2.0 features more than 350 pages of new laws affecting...more
The Internal Revenue Service has issued Notice 2020-23, which automatically postpones certain deadlines affecting employee benefit plans. Specifically, any deadline that would ordinarily fall on or after April 1, 2020,...more
4/18/2020
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Deadlines ,
Deferred Action ,
Defined Contribution Plans ,
Employee Benefits ,
ESOP ,
Form 5500 ,
IRA Rollovers ,
IRC Section 83(b) ,
PBGC ,
Premiums ,
Relief Measures ,
Repayment Options ,
Retirement Plan
The IRS has announced that it has made substantial modifications to the fee structure applicable to voluntary compliance program (VCP) applications for the correction of compliance defects in tax-qualified retirement plans,...more
The Committee on Ways and Means yesterday released the proposed Republican tax reform bill, titled the "Tax Cuts and Jobs Act." Although the proposed bill makes major changes to individual and corporate tax provisions in many...more
11/3/2017
/ 457(b) Plans ,
Business Taxes ,
Compensation & Benefits ,
Deferred Compensation ,
Employee Benefits ,
Executive Compensation ,
Fringe Benefits ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Roth Conversions ,
Roth IRA ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Rates ,
Tax Reform ,
Trump Administration
The IRS has released Announcement 2017-11 to provide relief to taxpayers from requirements for loans and hardship distributions for participants of qualified retirement plans who have been adversely affected by Hurricane...more
9/1/2017
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Future Tax Treatment ,
Hardship Distributions ,
Hurricane Harvey ,
IRS ,
Loans ,
Natural Disasters ,
Retirement Plan