Articles — Ascensus

IRS Extends Remedial Amendment Period for SECURE Act, Miners Act, and Certain Provisions of CARES Act

The IRS issued Notice 2022-33, which extends the deadline for amendments to retirement plans and Individual Retirement Arrangements (IRAs) to adopt provisions enacted under the SECURE Act, the Miners Act, and some provisions under the CARES Act.

2023 HSA Limits Released

Maximum annual HSA contributions will rise from $3,650 to $3,850 for those with self-only insurance coverage, and from $7,300 to $7,750 for those with family coverage.

HSA, News BriefAscensusMay 19, 2022HSA

IRS Issues Deadline Relief for New Mexico Victims of Wildfires and Straight-Line Winds

The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of wildfires and straight-line winds in New Mexico.

IRA, Employer Plan, News BriefAscensusMay 19, 2022IRS, IRA, Disaster, Qualified Retirement Plan, Retirement Plan, Tax

IRA Bankruptcy Exemption Increases

Effective April 1, 2022, the maximum aggregate bankruptcy exemption amount for IRAs increased from $1,362,800 to $1,512,350.

IRA, News BriefAscensusMay 19, 2022IRA, Traditional IRA, Roth IRA

April 18 is IRS Tax Filing Deadline for Most Filers

The IRS announced that the filing deadline for 2021 tax returns or requests for extension is April 18, 2022, for most taxpayers.

IRA, HSA, News Brief, Employer PlanAscensusJanuary 20, 2022HSA, IRA, Compliance & Operations, Regulations, IRS, Traditional IRA, Roth IRA, Tax, Reporting

IRS Issues Deadline Relief for Colorado Wildfire Victims, Washington Flooding and Mudslide Victims

In early January, the IRS issued a news release announcing the postponement of certain tax-related deadlines for victims of wildfires and straight-line winds in Colorado. The IRS also issued a news release in mid-January announcing the postponement of certain tax-related deadlines for victims of flooding and mudslides in Washington.