IRS Guidance

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.

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.

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

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.

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

The Internal Revenue Service (IRS) has issued Notice 2024-24, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

The IRS has issued Revenue Ruling 2024-04, which contains the applicable federal rates (AFR) for March 2024.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, landslides, and mudslides in West Virginia.

The IRS, in an Employee Plans News release, announced it has started the second phase of its pre-examination retirement plan compliance program pilot.

The Internal Revenue Service (IRS) has released final regulations that provide de minimis error safe harbor exceptions to penalties for failure to file correct information returns or furnish correct payee statements.