Browsing Tag
Internal Revenue Service (IRS)
80 posts
IRS Comes Through with Roth Catch-Up Contribution Deadline Extension
“Administrative transition period” announced Friday afternoon extends until 2026 the new requirement that any catch-up contributions made by higher income participants in 401(k)s must be designated as Roth
IRS Extends Tax Filing Deadline for Hawaii Wildfire Victims
Those impacted by the wildfires in Maui could also qualify for hardship withdrawal tax relief, said the IRS
GAO Asks DOL to Focus on 403(b) Plans
The report looks at improvements that Department of Labor could make in supporting ERISA and non-ERISA 403(b) plans
401(k) Industry Still Pleading for Delay in SECURE 2.0 Catch-Up Contribution Requirement
Heavyweight list of organizations urge government to delay change currently set for start of 2024 that could eliminate catch-up contributions; Treasury Department expected to issue guidance soon
2024 401(k) Contribution Limit: Milliman Forecasts Modest Increase
Based on current inflation data, Milliman’s latest 2024 IRS limits forecast predicts a $500 increase while official 2024 limits are expected to be announced in October
HSA Contribution Limits Get Biggest-Ever Boost for 2024
IRS releases new inflation-adjusted amounts for health savings accounts
IRS Reminds Retirees of April 1 RMD Deadline
While RMDs are generally made by the end of the year, the April 1 deadline only applies to retirees receiving their first RMD
A Boon for the 403b: IRS Expands Tax-Favored Approval Process
As of June 2023, the IRS will allow 403b plans to use the same individually designed retirement plan determination letter program used by 401ks
2023 401(k) Contribution Limits Released: Big COLA Increase for Savers
The announcement comes as lawmakers and other government agencies grapple with historically high inflation
IRS Extends SECURE, CARES Act Amendment Deadlines
Unexpected “gift” means retirement plan sponsors now have until the end of 2025 to amend plans taking advantage of benefit changes allowed by the bills