Browsing Tag
Internal Revenue Service (IRS)
82 posts
HSAs Can Be Used for COVID-19 Testing and Treatment: IRS
COVID-19 testing and treatment are now considered qualifying expenses for health savings accounts (HSA), the IRS said Wednesday.…
IRS Provides Relief for SECURE Act RMD Changes
There’s a bit of confusion over the age extension for required minimum distributions (RMD) contained in the recently…
Treasury Department Proposes Longer RMD Age Calculations
Longer lifespans have the Treasury Department rethinking RMD calculations. The government body proposed revisions to the age that…
IRS Bumps 2020 401k Contribution Limit to $19,500
The Internal Revenue Service today announced that employees in 401k plans will be able to contribute up to…
Help Form the Open MEPs Rule: IRS Seeking Input for Dec. 11 Hearing
If you have something to say about the IRS proposed rule on Multiple Employer Plans, speak soon or…
Adopted as Proposed: IRS Finalizes 401k Hardship Distribution Regulations
401k participants who experience “an immediate and heavy financial need” will be allowed to access funds from their…
Top 10 IRS Areas of Focus in Retirement Plan Investigations
Areas of Focus: Slideshow The Internal Revenue Service (IRS) has primary jurisdiction over the qualified status of retirement…
IRS: One Bad Apple Can’t Spoil a 401k MEP Bunch
One bad apple shouldn’t spoil the whole bunch. That’s the thinking behind the Treasury Department/IRS’s new proposed regulation…
IRS Expands Retirement Plan Determination Letter Program
When setting up a benefit plan such as an individually designed 401k retirement plan, many businesses prefer to…
IRS Announces HSA Contribution Limits for 2020
Health Savings Account (HSA) contribution limits for 2020 will receive modest increases, the IRS announced May 28. In…