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).
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.
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.
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.
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.
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.
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.
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.
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.
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.