IRS

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Alaska Severe Storm, Landslides, and Mudslides

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2024, for Alaska severe storm, landslides, and mudslides, for the incident period of November 20, 2023.

March 18 2024

Industry & Regulatory News

IRS Announces Applicable Federal Rates for April

The IRS has issued Revenue Ruling 2024-07, which contains the applicable federal rates (AFR) for April 2024.

March 18 2024

Industry & Regulatory News

IRS Issues Reminder on Appropriate FSA and HSA Medical Expenses

The IRS has released an alert reminding taxpayers that personal expenses for general health and wellness are not considered medical expenses for flexible spending account (FSA) and health savings account (HSA) purposes, and that reimbursement of non-medical expenses results in the arrangement no longer being qualified and all disbursements being includible in income.

March 07 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Vermont Severe Storms and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 2, 2024, for Vermont R1 severe storms and flooding, for the incident period of December 18 – December 19, 2023.

March 04 2024

Industry & Regulatory News

IRS Announces Deadline Relief for Spokane Area Wildfires

The IRS has announced the postponement of certain tax-related deadlines for victims of wildfires in the Spokane, Washington, area.

February 29 2024

Industry & Regulatory News

IRS Delays Electronic Filing Requirement for Form 1042

The IRS has issued Notice 2024-26, providing an administrative exemption from the electronic filing requirement for Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, otherwise required to be electronically filed in calendar year 2024.

February 28 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for New Hampshire Severe Storm

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on February 27, 2024, for New Hampshire severe storm and flooding, for the incident period of December 17 – December 21, 2023.

February 28 2024

Industry & Regulatory News

IRS Announces Deadline Relief for Severe Storms in San Diego

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in San Diego, California.

February 28 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for California Severe Storm and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on February 19, 2024, for California severe storm and flooding, for the incident period of January 21, 2024–January 23, 2024.

February 20 2024

Industry & Regulatory News

IRS Announces Deadline Relief for Michigan Severe Storms, Tornadoes, and Flooding

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, tornadoes and flooding in Michigan.

February 20 2024