News & Analysis as of

Tax Relief Individual Retirement Account (IRA) Employee Benefits

Jackson Lewis P.C.

New Tax-favored Benefit for Employees with Children

Jackson Lewis P.C. on

Among the federal tax changes made by the “One Big Beautiful Bill Act” (discussed in our prior post) is a new kind of custodial savings account for children (who’ve been issued a social security number) to which their or...more

Pullman & Comley - Labor, Employment and...

IRS Provides Required Minimum Distribution Relief for 2021 and 2022

Retirement plans and individual retirement accounts (IRAs) are subject to required minimum distribution rules under Internal Revenue Codes Section 401(a)(9). The SECURE Act amended the required minimum distribution rules...more

Morgan Lewis

COVID-19: IRA Providers Have Until August 31, 2020 to File Form 5498 for 2019

Morgan Lewis on

New formal guidance from the Internal Revenue Service (IRS) extends the deadline for providers of individual retirement accounts and individual retirement annuities (IRAs) to file Form 5498 in response to the coronavirus...more

Morgan Lewis

COVID-19: IRS Insights for IRA Owners, Guidance Needed for IRA Providers

Morgan Lewis on

All IRA owners have until July 15, 2020 to make IRA contributions for 2019 and pay early distribution penalties for 2019, but a few questions remain on deadlines and reporting for IRA providers. ...more

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