The IRS issued Notice 2020-68, that provides guidance on the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) that was enacted in December 2019 in a question-and-answer format. Topics ...
The IRS has announced tax relief for victims of Hurricane Laura IR-2020-197 by extending the filing deadline for filing various individual and business tax returns and to make payments from ...
The IRS has announced tax relief for victims of Iowa derecho and victims of California wildfires in IR-2020-190 and IR-2020-191 by extending the filing deadline for filing various individual and ...
The IRS recently released Notice 2020-62, which has modified the safe harbor explanations used to satisfy the 402(f) notice that is required to be provided by a plan sponsor to ...
The Financial Crimes Enforcement Network (FinCEN), has issued responses to three FAQs regarding customer due diligence (CDD) requirements for covered financial institutions. The topics discussed include whether covered financial institutions ...
The Department of Treasury and IRS announced in IR-2020-134 that the tax filing and payment deadline of July 15, 2020 will not be postponed. The original tax filing deadline had ...
The IRS announced relief for victims of the tornadoes, severe storms, and flooding that took place in parts of Mississippi, Tennessee, and South Carolina in IR-2020-126. Affected individuals and businesses ...
The IRS released Notice 2020-51 which provides significant relief for IRA owners and beneficiaries as well as retirement plan participants who wish to return their 2020 distributions due the RMD rule ...
The IRS released Notice 2020-50 regarding section 2202 of the CARES Act which provides for favorable tax treatment of coronavirus-related distributions for qualified individuals with respect to distributions from eligible ...
In response to local shutdowns and social distancing practices amid the Covid-19 pandemic, the IRS released Notice 2020-42 which provides temporary relief from the physical presence requirement in Treasury Regulations ...