IRS Adding LinkedIn to Communicate About PTINs
News from the IRS today: The IRS Return Preparer Office is expanding its social media presence in an effort to better communicate with and support the tax professional community. RPO is now on...
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July 16, 2001 – The IRS issues Final Regulations on Nondiscrimination Requirements for Certain Defined Contribution Plans, T.D. 8954, containing Treas. Reg. 1.401(a)(4)-8(b), also known as the Final...
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July 17, 2006 – The IRS releases Revenue Ruling 2006-38, describing how to determine the amount involved for calculating the Code section 4975 prohibited transaction excise tax if an employer does not...
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July 23, 2007 – The IRS issues Announcement 2007-63, eliminating Schedule P from Form 5500 filings, effective for the 2005 and later plan years for Form 5500-EZ filers and for the 2006 and later plan...
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July 26, 2007 – The IRS issues final regulations on Revised Regulations Concerning Section 403(b) Tax-Sheltered Annuity Contracts, also known as the Final 403(b) Regulations. They are a comprehensive...
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Aug. 6, 2007 – The IRS issues proposed regulations on cafeteria plans. They are comprehensive regulations which incorporate previous guidance into this one set of proposed regulations and withdraw...
View ArticleIRS Updates Determination Letter Procedures for Multiple Employer Plans
After the Dept. of Labor issued Advisory Opinion 2012-04a, the IRS quietly updated the determination letter application procedure for multiple employer plans. On June 5, 2012, in updated section 7.11.7...
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Sept. 27, 2007 – The IRS issues Quality Assurance Bulletin FY 2007-2 on the EGTRRA Staggered Remedial Amendment Period and Remedial Amendment Cycle for Individually Designed Plans. In 12 pages, it...
View ArticleTax Consequences of 401(k) Plan Disqualification
I had a great question today – what happens when the IRS disqualifies a 401(k) plan? What they really wanted to know is what happens to the non-elective contributions made by the employer into the...
View ArticleDistrict Court Says No to IRS About RTRPs, Are ERPAs, Enrolled Actuaries or...
Almost a month has passed since the U.S. District Court of the District of Columbia issued its opinion about IRS Circular 230 on Jan. 18, 2013, and I’m a little surprised by the lack of discussion...
View ArticleNew IRS Defined Benefit Guidance for Plan Sponsors with Closed DB Plan and...
At 10:10am ET this morning, the IRS issued new guidance for plan sponsors who sponsor both a “closed” defined benefit plan and a defined contribution plan. With so many state and local governments...
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Jan. 7, 2002 – The IRS issues the Quality Assurance Bulletin on Interested Party Comments, FY-2002 No. 2. It clarifies the procedures the IRS will use when it receives comments from an interested party...
View ArticleIRS Extends Deadline for 403(b) Plan Documents
Yesterday, the IRS issued Rev. Proc. 2014-28, extending the deadline for plan document providers to submit applications to the IRS for pre-approval of prototype and volume submitter plan documents from...
View ArticleNew IRS Amendment Info on Supreme Court’s Decision on Same-Sex Marriage for...
On Friday (April 4, 2014), the IRS issued Notice 2014-19, addressing how the U.S. Supreme Court’s decision on same-sex marriage in U.S. v. Windsor and IRS Rev. Rul. 2013-17 affects retirement plans and...
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A Little Tax Day Humor
tax day Found this gem in the 2013 Form 1040 Instructions for Line 6c – Dependents: “A qualifying child is a child who is…under age 19 at the end of 2013 and younger than you“ - page 17 of 207 Even...
View ArticleIRS Issues Obamacare Penalty Relief for Small Employers
The maxim that the IRS waits until after noon ET to release guidance worth reading was re-enforced today when the IRS released Notice 2015-17 this afternoon. In Notice 2015-17, the IRS provides...
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