News & Analysis as of

Overpayment Internal Revenue Code (IRC) New Guidance

Bricker Graydon LLP

More Discretion, More Documentation: Recovering Overpayments Under Secure 2.0

Bricker Graydon LLP on

Under SECURE 2.0, plan sponsors were granted discretion to determine whether or not the plan would recoup "inadvertent benefit overpayments." However, SECURE 2.0, did not define the term, leaving implementation of the new...more

ArentFox Schiff

Money (That’s What I Want): IRA’s Direct Pay Mechanism Benefits Tax-Exempt Entities

ArentFox Schiff on

The Inflation Reduction Act (IRA), which recently celebrated its one-year anniversary, presents new opportunities for tax-exempt and other organizations to directly benefit from renewable energy tax credits, including...more

Buchalter

IRS Expands Self-Correction under EPCRS and Adds New Overpayment Correction Methods

Buchalter on

On Friday, the IRS issued Revenue Procedure 2021-30 expanding the Employee Plans Compliance Resolution System (“EPCRS”)—a voluntary program for correcting errors in tax-qualified and section 403(b) plans—by adding two new...more

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