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In a recent Issue Snapshot about how the annual limit on retirement plan contributions under Section 415(c) of the Internal Revenue Code (“Code”) applies to 403(b) plans, the IRS...
The IRS Tax Exempt and Government Entities (TE/GE) Division has oversight responsibilities for employee plans, including retirement plans, IRAs, and related trusts. TE/GE has a...
The IRS reminds retirement plan sponsors of rules that, if broken, can result in loan amounts being deemed distributions.
If a 403(b) plan participant also sponsors a plan to which he contributes, the plans must satisfy the annual additions limitation on an aggregate basis.
To embed, copy and paste the code into your website or blog: Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 7 – December 11, 2020... December 7, 2020: The IRS released TD 9937 related to rollover rules for qualified plan loan offset amounts. December 9, 2020: The IRS issued Notice 2020-86 providing guidance on sections 102 and 103 of the SECURE Act with respect to safe harbor plans. December 9, 2020: The IRS released TD 9939 containing final regulations addressing the elimination of the deduction under ...