Browsing Tag
Internal Revenue Service (IRS)
98 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.
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 401(k) 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
IRS Determination Letter ensures retirement plan compliance with IRS rules, offering reassurance for sponsors and employees alike.
IRS Announces HSA Contribution Limits for 2020
IRS confirms HSA annual contribution limits will increase $50 to $3,550 for self-only coverage and by $100 to $7,100 for family coverage for 2020.
High-Tech Lowlife: Colorado CEO Convicted of 401(k) Fraud
A chief executive of two technology companies located in Denver, Colorado was found guilty of a host of…
Top 10 Senior Scams (And the Billions they Cost)
Older Americans lose a staggering $2.9 billion a year to financial exploitation schemes as a new study shows retirement account scams tripled in 2018.
3 Steps to Better Tax Treatment of Missing 401(k) Funds
What happens when 401(k)s are orphaned by employees? Like any other unassigned assets, they’re transferred to the states…
7 Situations When HSA Contributions Can Be Returned: Marcia Wagner
Certain situations allow for an employer to request the return of Health Savings Account (HSA) contributions it made…
Quick and Easy Guide to the IRS 401(k) Loan Rules
401(k) administrators play many roles—including, often somewhat reluctantly, banker. In addition to all other duties, plan administrators are…
Don’t Forget! Retirement Plan RMDs Due Soon
Required Minimum Distributions must be taken on time to avoid IRS tax penalties. Learn the deadlines and special rules for RMDs.