News & Analysis as of

Internal Revenue Service Retirement Plan Tax Credits

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
McDermott Will & Schulte

IRS roundup: July 12 – July 29, 2025

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for July 12, 2025 – July 29, 2025. July 15, 2025: The IRS issued Revenue Ruling 2025-14, providing prescribed rates for...more

Littler

Puerto Rico Department of the Treasury Announces 2025 Limits on Qualified Retirement Plans

Littler on

On January 23, 2025, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans. Pursuant to...more

Seyfarth Shaw LLP

Catching-Up on Catch-Up Contribution Changes

Seyfarth Shaw LLP on

New proposed regulations issued by The Department of Treasury and IRS provide guidance on the provisions related to catch-up contributions that were included under SECURE 2.0 Act of 2022 (“SECURE 2.0”)....more

McDermott Will & Schulte

IRS Roundup January 6 – 10, 2025

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 6, 2025 – January 10, 2025....more

Allen Barron, Inc.

Those Above the Age of 50 Should Analyze Increased Tax Advantages of 401(k) Contributions in 2025

Allen Barron, Inc. on

Are you above the age of 50? Do you and/or your spouse have a 401(k)? Are you interested in reducing the amount you will have to pay in 2025 income taxes while increasing the amount of money you receive after retirement?...more

McDermott Will & Schulte

Weekly IRS Roundup November 4 – November 8, 2024

McDermott Will & Schulte on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 4, 2024 – November 8, 2024...more

McDermott Will & Schulte

Weekly IRS Roundup October 28 – November 1, 2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 28, 2024 – November 1, 2024....more

Miller Canfield

IRS Issues Grab Bag Notice Addressing Various SECURE 2.0 Provisions

Miller Canfield on

The IRS recently issued Notice 2024-02— dubbed the “Grab Bag Notice”— which addresses multiple provisions in SECURE 2.0. The guidance is 81 pages long, comes in the form of frequently asked questions and answers, and speaks...more

Morgan Lewis

Secure Act 2.0: Analysis of Expanded Matching Contribution and Emergency Savings Account Provisions

Morgan Lewis on

The SECURE 2.0 Act of 2022 (SECURE 2.0) makes far-ranging changes to the US employer–retirement plan system intended to expand access to retirement plans and encourage savings by US workers. This LawFlash more closely...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions #11 — The Saver’s Match for Low Income Workers

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022. SECURE Act 2.0 has over 90 provisions, some major and some minor; some mandatory and some optional; some...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions #7—Tax Credits for Administrative and Contribution Costs for New Plans for Small...

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022. SECURE Act 2.0 has over 90 provisions, some major and some minor; some mandatory and some optional; some...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions #6 – Tax Credits for Administrative and Contribution Costs for New Plans for...

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022. SECURE Act 2.0 has over 90 provisions, some major and some minor; some mandatory and some optional; some...more

McDermott Will & Schulte

Weekly IRS Roundup February 20 – February 26, 2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 20, 2022 – February 26, 2022... February 22, 2022: The IRS issued a correction to...more

Kaufman & Canoles

Employee Benefits Client Alert – Retirement Plan Limitations, ACA Numbers and Limits, Premium Tax Credit Reference Guide, and...

Kaufman & Canoles on

Kaufman & Canoles’ ESOPs & Employee Benefits Practice Group is pleased to provide the following reference materials as 2022 approaches...more

McDermott Will & Schulte

Securing Retirement: Additional SECURE Act and Miners Act Guidance for Retirement Plans

The Internal Revenue Service (IRS) recently issued practical and helpful guidance in a question-and-answer format for tax-qualified retirement plans and for an Individual Retirement Arrangement (IRA), regarding the...more

Seyfarth Shaw LLP

IRS Provides Additional Clarity on Key SECURE Act Provisions

Seyfarth Shaw LLP on

On December 20th, before the outbreak of COVID-19 and the resulting pandemic, President Trump signed into law the Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) and the Bipartisan...more

Hutchison PLLC

Client Alert: Joint Guidance Gives Immediate Relief to Small and Midsize Businesses

Hutchison PLLC on

The IRS and DOL recently issued joint guidance enabling small and midsize employers to begin taking advantage of two new refundable payroll tax credits which are designed to immediately and fully reimburse them,...more

Schwabe, Williamson & Wyatt PC

New Retirement Plan Legislation Enacted Into Law

On December 20, 2019, federal legislation approving spending limits for the 2020 fiscal year was signed into law. Included in the legislation is the Setting Every Community Up for Retirement Enhancement Act of 2019 (the...more

McDermott Will & Schulte

Weekly IRS Roundup April 29 – May 3, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 29 – May 3, 2019. April 29, 2019: The IRS issued a news release urging taxpayers who had...more

Brownstein Hyatt Farber Schreck

House Ways and Means Advances Three Bills

Committee Unanimously Passes Retirement, Tax Administration and Reemployment Services Legislation - On April 2, the House Ways and Means Committee convened to markup retirement, tax administration and reemployment services...more

McDermott Will & Schulte

Weekly IRS Roundup January 21 – 25, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 21 – 25, 2019. Tax news is very limited because of the government shutdown: January 22,...more

FordHarrison

2016 Cost of Living Increases are Rare

FordHarrison on

On October 21, 2015, in Information Release 2015-118, the IRS announced cost-of-living adjustments to various dollar limitations under the Internal Revenue Code (the "Code") for pension plans and other related items for the...more

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