The IRS has posted a final version of the 2020 Instructions for Forms 1099-R and 5498. Form 5498 IRA providers are required to report repayments of Qualified Birth or Adoption Distributions ...
The IRS has now posted two different draft versions of the 2020 Instructions for Forms 1099-R and 5498. The first draft was posted on January 16, 2020, and the second draft ...
The IRS posted an updated Publication 590-A relative to Contributions to Individual Retirement Arrangements (IRAs) for use in preparing 2019 income tax returns. The publication highlights some of the following ...
Based on the SECURE Act of 2019, individuals can now remove funds from an IRA penalty-free to pay for qualified birth and adoption expenses. The IRS has posted a draft ...
The IRS recently released Notice 2020-06 which provides relief for reporting required minimum distributions (RMD) for IRAs for 2020 in recognition of the short amount of time that financial institutions ...
On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act of 2020, which incorporated the Setting Every Community Up for Retirement Enhancement (SECURE Act). The SECURE Act includes ...
On December 16, 2019, Congress incorporated the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), which passed the House earlier this year, into a bipartisan appropriations bill that ...
The IRS issued Notice 2019-59 announcing the 2020 cost-of-living adjustments (COLAs) applicable to dollar limitations for employer-sponsored retirement plans, including individual retirement arrangements (IRAs). The annual contribution limit remains at ...
Recently, the IRS proposed treasury regulation, REG–132240–15, providing clarification on distributions from certain retirement plans and IRAs that are delivered outside of the United States. This regulation would clarify the ...
The IRS released Revenue Procedure 2019-25 announcing the cost-of-living adjustments (COLAs) applicable to health savings accounts (HSAs) for the calendar year 2020. The changes include an increase in the contribution ...