Retirement plan sponsors need to utilize updated Form W-4P (for periodic pension and annuity payments) and new Form W-4R (for nonperiodic payments and eligible rollover distributions) for income tax withholding elections...more
12/14/2022
/ Benefit Plan Sponsors ,
Filing Deadlines ,
Income Taxes ,
IRA Rollovers ,
IRS ,
Retirement Plan ,
Tax Cuts and Jobs Act ,
Tax Forms ,
W-4 ,
Withholding Requirements ,
Withholding Tax
Much has been written about the new CARES Act distribution that allows impacted COVID-19 participants to access up to $100,000 in their tax-qualified defined contribution plan penalty-free and with income taxes spread over...more
The IRS recently issued guidance on the tax treatment, withholding and reporting for required distributions from tax-qualified retirement plans. Plan sponsors should contact their retirement vendors and trustees to ensure...more
10/22/2019
/ 401k ,
Benefit Plan Sponsors ,
Employee Benefits ,
Income Taxes ,
Individual Retirement Account (IRA) ,
IRS ,
New Guidance ,
Reporting Requirements ,
Retirement Plan ,
Revenue Rulings ,
Tax Code ,
Tax Liability ,
Tax Planning ,
Taxable Distributions ,
Trustees ,
Vendors ,
Withholding Requirements
2014 presents particular challenges with respect to FBAR, the Report of Foreign Bank and Financial Accounts, for certain U.S. persons with interests in or signature authority over assets exceeding $10,000 held outside the...more
The number of defined contribution plans (including 401(k), 403(b) or 457(b) plans) with a Roth feature has grown significantly in recent years. Roth 401(k) is gaining popularity due in part to tax hedging or tax...more