ERISA News

Industry & Regulatory News

Bill Proposed to Allow HSA Distributions for Home Care Expenses

Representative Adrian Smith (R-NE), along with several co-sponsors have re-introduced the Homecare for Seniors Act — a bill that would allow funds to be used from health savings accounts (HSAs) for qualified home care services.

March 28 2023
HSA

Industry & Regulatory News

Hardship Distributions May Be Permitted for Mississippi Severe Storms, Straight-line Winds, and Tornados

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.

March 27 2023

Industry & Regulatory News

IRS Announces Deadline Relief for New York Severe Winter Storm and Snowstorm

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

March 27 2023

Industry & Regulatory News

Employer Tax Credits, Part 2

The SECURE 2.0 Act modifies one small-employer credit and creates another. These credits may make establishing and contributing to a plan much more attractive.

March 24 2023

Industry & Regulatory News

Hardship Distributions May Be Permitted for Maine Severe Storm and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 22, 2023, for severe storm and flooding in Maine, for the incident period of December 23, 2022 – December 24, 2022.

March 24 2023
IRS

Industry & Regulatory News

Prime Interest Rate Increased to 8.00 Percent

Effective March 22, 2023, the prime interest rate increased from 7.75 percent to 8.00 percent.

March 23 2023

Industry & Regulatory News

IRS Provides Indexing for Employer Shared Responsibility Payments

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).

March 22 2023

Industry & Regulatory News

Hardship Distributions May Be Permitted for Vermont Severe Storm and Flooding

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.

March 22 2023

Industry & Regulatory News

DOL Reopens Comment Period on Proposed QPAM Exemption

The Department of Labor (DOL) has reopened the comment period for receiving written comments related to prohibited transaction class exemption 84-14 (the Proposed QPAM Amendment) to April 6, 2023.

March 22 2023

Industry & Regulatory News

IRS Intends to Issue Guidance on Certain NFTs as Collectibles

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).

March 21 2023