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Retirement Plan › Beneficiaries › Income Taxes

Proskauer - Employee Benefits & Executive...

IRS Clarifies that Failure to Cash Checks Does Not Affect Withholding or Reporting

Proskauer - Employee Benefits & Executive... on

Revenue Ruling 2025‑15 (available here) provides guidance on withholding and reporting obligations when a plan participant or beneficiary fails to cash a distribution check and a replacement check is issued. As discussed...more

Foley & Lardner LLP

Trump Accounts: The New Child Savings Account Established Under the One Big Beautiful Bill Act

Foley & Lardner LLP on

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBA). The OBBA established a new type of tax-advantaged savings account for minors, known as “Trump Accounts.” While the specific details of...more

Troutman Pepper Locke

Estate Planning in Uncertain Times

Troutman Pepper Locke on

"God, grant me the serenity to accept the things I cannot change, courage to change the things I can, and wisdom to know the difference."- The Serenity Prayer- The first 100 days of President Trump’s administration have been...more

Chambliss, Bahner & Stophel, P.C.

Passing Retirement Benefits to a Child With Special Needs

Chambliss, Bahner & Stophel, P.C. on

Under the SECURE Act, disabled beneficiaries can stretch out inherited retirement account distributions beyond 10 years, provided their life expectancy is longer than the default 10-year rule. Generally, an Applicable...more

Proskauer Rose LLP

Wealth Management Update - April 2025

Proskauer Rose LLP on

The April 2025 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.00%, which is 0.40% less than the March 2025 rate. The April applicable federal rate (“AFR”) for use with a...more

Offit Kurman

Equal Shares, Unequal Outcomes: Estate Planning Strategies for Parents and their Qualified Retirement Accounts

Offit Kurman on

Typically, a parent wishes to treat their children equally in their estate plan and presumes they will achieve this goal by dividing all their assets into equal shares upon their death. Accordingly, they will designate their...more

Seward & Kissel LLP

New Option: Rollover From 529 Account to Roth IRA

Seward & Kissel LLP on

Federal income tax law offers tax advantages to taxpayers that save money in specially designated accounts earmarked for future educational expenses (“529 Accounts”).  In addition, federal income tax law also incentivizes...more

Allen Barron, Inc.

Estate and Tax Planning for US Expatriates

Allen Barron, Inc. on

What are the most important elements of estate and tax planning for US expatriates?  Are you planning to move out of the United States?  Are you a US taxpayer who lives and works outside of the country?  What are some of the...more

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