Browsing Tag
Internal Revenue Service (IRS)
106 posts
The Internal Revenue Service (IRS) is the U.S. federal agency responsible for administering and enforcing tax laws. It collects taxes, processes tax returns, issues refunds, and ensures compliance with federal tax obligations. Operating under the Department of the Treasury, the IRS also provides taxpayer assistance, develops regulations, and combats tax fraud.
IRS Proposes New LTPTE Regulations for 401(k)s
Long-awaited guidance for long-term part-time employees triggers 60-day comment period
2023 Form 5500: Updated Informational Copies Now Available Online
Several changes stemming from SECURE Act included in 2023 Form 5500 Series annual return, report
IRS Bumps 2024 401(k) Contribution Limit to $23,000
IRA limit also gets $500 boost while catch-up contribution limit remains the same
SECURE 2.0 Roth Catch-Up Delay: More IRS Guidance to Come
While news of a two-year pause for the Roth catch-up contribution requirement provided welcome relief from a looming 2024 deadline, more questions about Section 603 remain
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