IRA

Industry & Regulatory News

IRS Releases 2024 Cost-of-Living Adjusted Retirement Savings Limitations

The IRS has issued Notice 2023-75, which contains the 2024 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).

November 01 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Kansas Severe Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on October 26, 2023, for severe storms, straight-line winds, tornadoes, and flooding in Kansas, for the incident period of July 14, 2023, – July 21, 2023.

October 27 2023

Industry & Regulatory News

SECURE 2.0 Act Changes RMD Rules

On December 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023, which included the SECURE 2.0 Act.

October 25 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for California Tropical Storm Hilary

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on October 18, 2023, for California Tropical Storm Hilary, for the incident period of August 19 – August 21, 2023.

October 19 2023

Industry & Regulatory News

IRS Announces Additional Deadline Relief for California Winter Storms

The IRS has announced an additional postponement of certain tax-related deadlines for victims of severe winter storms beginning on March 9, 2023, January 8, 2023, and December 27, 2022.

October 17 2023

Industry & Regulatory News

IRS Announces Applicable Federal Rates for November 2023

The IRS has issued Revenue Ruling 2023-20, which contains the applicable federal rates (AFR) for November 2023.

October 17 2023

Industry & Regulatory News

Disaster Distribution Proposal Introduced in House

Representative Jill Tokuda (D-HI) has introduced HR 5873, the Natural Disaster Tax Relief Act of 2023.

October 17 2023

Industry & Regulatory News

IRS Announces Deadline Relief for Affected Taxpayers in Israel, the West Bank, and Gaza

The IRS has announced, in Notice 2023-71, the postponement of certain tax-related deadlines for taxpayers affected by the October 7, 2023, terroristic action in the State of Israel.

October 13 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Montana Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on October 11, 2023, for Montana flooding for the incident period of June 1 – June 8, 2023.

October 12 2023

Industry & Regulatory News

IRS Priority Guidance Plan Includes Retirement Items

The IRS has issued its 2023-2024 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.

October 02 2023