IRS Ruling on 401(k) Discretionary Contributions
On August 23, 2024, the IRS gave its approval to a novel arrangement in which employees participating in their employer’s 401(k) plan would be permitted to elect to allocate certain …
IRS Releases Guidance on Matching Contributions for Qualified Student Loan Payments
On August 19, 2024, the IRS released Notice 2024-63, providing guidance in the form of Q&As regarding employer matching contributions for “qualified student loan payments” (QSLPS) made by employees participating …
IRS Final Regulations on Required Minimum Distributions Address Both Secure Acts
On July 19, 2004, the IRS released final regulations on required minimum distributions (“RMDs”) that address changes to the RMD rules made by the Setting Every Community Up for Retirement …
Form 5330 May Be Filed Via Paper or Electronically for 2023, 2024
On July 12, 2004, the IRS announced on its website website and in an “Employee Plan News” release dated July 17, 2024 that, due to the current lack of authorized e-file …
IRS Guidance: Emergency Personal Expense and Domestic Abuse Survivor Distributions
On June 20, 2024, the IRS issued Notice 2024-55 addressing exceptions to the 10 percent additional tax for early withdrawals in the case of (1) “Emergency Personal Expense Distributions” (EPEDs), …