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Retirement Plan › Income Taxes › Withholding Requirements

McDermott Will & Emery

Reminder: New Tax Forms for Retirement Plan Payment Withholding Effective January 1, 2023

McDermott Will & Emery on

Retirement plan sponsors need to utilize updated Form W-4P (for periodic pension and annuity payments) and new Form W-4R (for nonperiodic payments and eligible rollover distributions) for income tax withholding elections...more

McDermott Will & Emery

Still Tax, Even Without the Distributed Cash

McDermott Will & Emery on

The IRS recently issued guidance on the tax treatment, withholding and reporting for required distributions from tax-qualified retirement plans. Plan sponsors should contact their retirement vendors and trustees to ensure...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

IRS offers guidance on uncashed checks, but not really

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

In a recent revenue ruling, the IRS stated that if a participant or a beneficiary doesn’t cash a distribution check in the year it was issued, the individual still must include the amount in gross income for that year....more

Robinson & Cole LLP

New Connecticut Mandatory Income Tax Withholding Requirements for Pension and Annuity Payments

Robinson & Cole LLP on

New legislation, effective January 1, 2018, will require certain payors of pensions and annuities to withhold Connecticut state income tax from distributions made from an employer pension, annuity, profit-sharing plan, stock...more

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