Many IRA and retirement plan beneficiaries are not aware of the distribution requirements after an account owner has died. Without this knowledge, they could face unexpected penalty taxes. And your organization could face unexpected questions and complaints.
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The IRS and Department of Labor released tax relief guidance for victims of the severe storms and flooding events in Iowa, Nebraska, and Alabama.
Read MoreDo you sometimes get asked about the benefits of having a conduit IRA? Anymore it’s a thing of the past, but there are reasons why some of your clients may find value in using a conduit IRA.
Read MoreThe Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 is the latest House version of a retirement reform bill that, if passed, would make many significant changes to the retirement savings landscape.
Read MoreWho are leased employees? Is the recipient employer’s qualified retirement plan required to cover leased employees? If leased employees are covered, how does the recipient employer make contributions?
Read MoreThe 2018 IRS Form 1040 is noticeably different from previous years as a result of efforts to simplify tax filing. Just how different is it? Find out how reporting retirement savings-related information on Form 1040 has changed.
Read MoreAs a result of tornadoes, storms, and straight-line wind events in Alabama, the IRS has extended the deadline for affected victims to complete certain time-sensitive tax-related acts.
Read MoreThe Link can make administering your retirement, education, and health savings plans easier and help you grow your business. Tour The Link to learn how to find what you need—and what you may have been missing.
Read MoreWhat causes an employer-sponsored retirement plan to have an ineligible contribution failure? What options are available for a plan to correct an ineligible contribution failure?
Read MoreThe Retirement Enhancement and Savings Act of 2019 (RESA) is the latest version of a retirement reform bill that, if passed, would make many significant changes to the retirement savings landscape.
Read MoreLooking at the road map for 2019, take note of what may be ahead for retirement savings-related changes. Here are some key items to watch for.
Read MoreFor qualified retirement plan purposes, is crediting employee service important? Are there certain methods for crediting service and, if so, which one should be used? Can service with an employer ever be excluded?
Read MoreWhen must required minimum distributions (RMDs) from a 401(k) plan start and what is the annual deadline? What happens if RMDs are not timely distributed? Are there any correction options?
Read MoreChanges to the hardship distribution rules brought about by the Bipartisan Budget Act of 2018 and the IRS’ recently released proposed hardship regulations may affect your 401(k) and 403(b) clients.
Read MoreBoth the IRS and Department of Labor have provided their own guidance for tax-related deadline relief to those affected by the wildfires in certain California counties.
Read MoreThe IRS has modified its Voluntary Correction Program procedures under the Employee Plans Compliance Resolution System in a move to electronic filing and fee payments beginning in April 2019.
Read MoreThe IRS has updated its list of tax-related time-sensitive acts that may be postponed due to federally-declared disasters or service in the Armed Forces.
Read MoreHow is compensation defined for 401(k) plan purposes? How does the definition affect compliance testing? What time period is used for defining compensation?
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