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MoneyTipsCongratulations! You ve got your first major job. Unfortunately, you ve also got new tax obligations. Welcome to the workforce.You probably want to deal with your taxes as quickly as possible. Most
J.P. Morgan Asset Management Releases 2021 Guide to Retirement
PR Newswire
March 10, 2021 /PRNewswire/
J.P. Morgan Asset Management today released the 2021 Guide to Retirement, examining the most significant issues impacting retirement, including current challenges and opportunities and the tools needed to support planning conversations. The pandemic-impacted 2020 has caused many individuals to reflect on their retirement goals, so it s more critical than ever for advisors to understand and act upon the complex issues that will drive or derail retirement planning objectives in the year ahead, said
Katherine Roy, Chief Retirement Strategist,
J.P. Morgan Asset Management. Our 2021 Guide to Retirement considers a number of timely themes impacting those planning for retirement, such as managing lower expected returns for those closer to retirement, the importance of diversified investing, and tax management strategies.
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On February 18, 2021, the IRS released
Notice 2021-15 (the “Notice”) interpreting section 214 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the “Act”), enacted as Division EE of the Consolidated Appropriations Act, 2021 (Dec. 27, 2020). Because the Act was signed into law with a mere four days left in 2020, but applies to FSAs with 2020 plan years, there had been much uncertainty and speculation as to how the IRS would interpret these provisions and whether IRS guidance would adopt stringent or complicated rules that limit the flexibility Congress seemed to intend. Fortunately, the IRS guidance is generally good news, as it presents a lot of plan design options for employers, clear rules for administrators and ultimately, if adopted by the employer, a path for FSA participants to avoid forfeiting their FSA dollars, even if those participants are also enrolled in Health Savings Accounts for 2021.