News & Analysis as of

401k Tax Planning Individual Retirement Account (IRA)

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Why TPAs Shouldn’t Ignore SEP-IRAs—But Also Shouldn’t Stop There

If you’re a TPA and you’re not talking to your small business clients about SEP-IRAs, you’re missing the plot. But if you’re only talking about SEP-IRAs, you’re missing the opportunity....more

Lathrop GPM

[Webinar] Planning for Retirement Accounts that Outgrow Retirement - August 19th, 9:00 am PT

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Lathrop GPM attorneys Allie Itami and Sara Hire will walk through key legal and tax considerations that arise when retirement accounts grow beyond personal retirement needs. From alternative investments to estate tax...more

Jenner & Block

Client Alert: “Trump Accounts” – Tax-Advantaged Savings Accounts for Children

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On Friday, July 4, President Trump signed into law the One Big Beautiful Bill Act (H.R. 1) (“Big Beautiful Bill”) after narrow approval from both houses of Congress. The legislation extends the Tax Cuts and Jobs Act and...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Direct Employer Assistance and 401(k) Plan Relief Options for Employees Affected by California Wildfires

In the past week, devastating wildfires in Los Angeles, California, have caused unprecedented destruction across the region, leading to loss of life and displacing tens of thousands. While still ongoing, the fires already...more

Groom Law Group, Chartered

IRS Extends Anticipated Effective Date for Certain 2024 Proposed RMD Rules Until 2026

Last year, the IRS issued its long-anticipated final (and newly proposed) regulations to address SECURE 1.0 and 2.0 Act changes to the required minimum distribution (“RMD”) rules (Code section 401(a)(9)). The 2024 proposed...more

Kilpatrick

5 Key Takeaways | IRS Final RMD Rules & Proposed Regulations to Address SECURE 2.0 Act Issues

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Kilpatrick partner Sterling Perkinson and counsel San Parikh recently presented a CLE webinar for Strafford that focused on the 2024 Final Regulations and 2024 Proposed Regulations released on July 19, 2024, implementing the...more

White and Williams LLP

The 12 Days of Year-End Estate Planning

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As the end of 2024 draws near, it’s a great time to review your finances and prepare for a prosperous new year. Whether you’re cozying up by the fire or decorating with family, a little year-end financial planning can help...more

Morgan Lewis

IRS Provides Guidance on Hodgepodge of Secure 2.0 Provisions

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The US Internal Revenue Service (IRS) released a notice providing guidance on various provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0). Some of the topics touched on in the guidance include automatic enrollment, the...more

Seyfarth Shaw LLP

SECURE 2.0: Guidance on Exception to Early Distribution Penalty for Terminally Ill Individuals

Seyfarth Shaw LLP on

Seyfarth Synopsis: As previously reported here, on December 20, 2023, the IRS issued Notice 2024-2 (the “Notice”) providing guidance on several outstanding questions related to provisions under SECURE 2.0. This blog post...more

Mandelbaum Barrett PC

No Need to Be Insecure About Your Retirement Plan: A Guide to SECURE Act 2.0

Mandelbaum Barrett PC on

In July of 2019, the Setting Every Community Up for Retirement Enhancement Act, also known as the SECURE Act, changed the rules pertaining to 401(k), Roth, IRA, and other retirement savings plans. In December of 2022, the...more

Brownstein Hyatt Farber Schreck

Catch-Up Contributions: Breathe a Sigh of Relief

On Friday, Aug. 25, 2023, the IRS released Notice 23-62, which (i) clarifies that plan sponsors may continue to allow participant “age 50” catch-up contributions after Dec. 31, 2023, and (ii) delays implementation of the...more

Bowditch & Dewey

Tax Tips for New College Graduates

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As new college graduates cross the stage to receive their diplomas, many will also be heading to their first full-time jobs. There are some tax tips new graduates can implement early on that will help with savings in the long...more

Stoel Rives LLP

Changes Under Secure Act 2.0

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The SECURE 2.0 Act was signed into law in late December 2022. While the legislation contains a number of provisions, this alert focuses on the changes most relevant to individuals in their personal planning....more

Kilpatrick

Secure Act 2.0 – Summary of Key Provisions

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The House and Senate are moving forward on several versions of legislation, which are collectively known as the “Secure Act 2.0” because they would build off of the Secure Act, the last major retirement plan legislation...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Announces 2022 Limitations for Qualified Retirement Plans: Prices Aren’t the Only Thing Going Up

On November 4, 2021, the Internal Revenue Service (IRS) released the 2022 dollar limitations that apply to tax-qualified retirement plans. With few exceptions, the 2022 limitations published in Notice 2021-61 have been...more

Bowditch & Dewey

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Groom Law Group, Chartered

Comparison of Provisions in SECURE 2.0 and Cardin-Portman

Groom has prepared a comparison here of the provisions in two key retirement bills being considered by the 117th Congress: the Securing a Strong Retirement Act of 2021 (H.R. 2954, “SECURE 2.0”) and the Retirement Security &...more

Ruder Ware

IRS Releases Publication on RMDs for Inherited Retirement Benefits (and, of course, creates confusion)

Ruder Ware on

Ruder Ware’s Trusts & Estates blog has featured several posts (for example, Call to Action: Review Your Estate Plan in Light of the SECURE Act and Why SECURE Act Matters to You) on the SECURE Act, a federal law effective...more

Chambliss, Bahner & Stophel, P.C.

Is It Possible to Put a Retirement Plan in a Special Needs Trust?

Retirement plans often make up a significant portion of the assets of parents of children with special needs, or of individuals who have become disabled as adults. In such cases, the question arises as to whether the...more

Dickinson Wright

IRS Guidance on Retirement Plan Qualified Birth or Adoption Distributions

Dickinson Wright on

The Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) established a new in-service distribution known as a qualified birth or adoption distribution (“QBOAD”). ...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Senators propose COVID related catch-up

Several Republican senators have introduced legislation that would allow plan participants who are unable to make contributions to their tax-advantaged retirement accounts in 2020 to make catch-up contributions to these...more

Foster Garvey PC

Required Minimum Distributions From Retirement Plans Have Been Waived for 2020 – IRS Notice 2020-51 May Give Taxpayers That Have...

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The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act waives the requirement that taxpayers take required minimum distributions (“RMDs”) for 2020 from IRAs, 401(k) plans and other defined contribution plans....more

Troutman Pepper Locke

CARES Act – Retirement Plan Distributions and Loans: Troutman Sanders and Pepper Hamilton COVID-19 Issues for Employers Podcast...

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Troutman Sanders and Pepper Hamilton are producing a series of podcasts to discuss employee benefits, executive compensation, and labor and employment issues that employers are confronting in light of the COVID-19 pandemic,...more

Goodwin

U.S. CARES Act Suspends Retirement Plan Required Minimum Distributions for 2020

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The U.S. Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) suspends the Required Minimum Distribution rules for retirement plans for the 2020 calendar year. This Client Alert provides guidance for...more

Farrell Fritz, P.C.

Wills, Trusts & Estates: Plain and Simple – New Retirement Account Rules: Should You Re-Visit Your Estate Planning Documents?

Farrell Fritz, P.C. on

Under the SECURE act, which was passed by Congress just before Christmas, the new starting age to take Required Minimum Distributions (“RMD’s”) from tax-deferred retirement accounts (exs. an IRA, a 401(k), hereinafter “IRAs”...more

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