Lisa D. Edwards
SECURE 2.0: Key Retirement Plan Changes for 2024
The Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act was signed into law in December 2022, bringing more than 90 changes to retirement plan and tax laws.
IRS Issues Final Regulations on Inherited IRAs
The IRS has published new regulations relevant to taxpayers subject to the "10-year rule" for required minimum distributions (RMDs) from inherited IRAs or other defined contribution plans.
PCORI Fees Due July 31
The IRS released the Affordable Care Act's (ACA) Patient-Centered Outcomes Research Institute (PCORI) fee for plan years that end on or after October 1, 2023, and before October 1, 2024 (see IRS Notice 2023-70).
Round 2: 90-Day IRS Pre-Examination Compliance Pilot - Retirement Plans
The IRS Employee Plans Division has officially started the second phase of the Pre-Examination Retirement Plan Compliance Program pilot.
IRS Announces Transition Period for Mandatory Roth Catch Up Contributions
On August 25, 2023, the IRS announced in Notice 2023-62 that higher-income participants in 401(k) and similar retirement plans have been given a two-year delay on the new requirement that they must designate their catch-up contributions to those plans as after-tax Roth contributions.