IRS Reminds Taxpayers of Recent Changes to Retirement Plans
WASHINGTON, D.C. — The Internal Revenue Service is reminding taxpayers about the rules for required minimum distributions (RMDs) from retirement accounts.
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Get Credit for IRA Contributions Made by April 15 on 2020 Tax Returns
WASHINGTON, D.C. — The Internal Revenue Service announced that taxpayers of all ages may be able to claim a deduction on their 2020 tax return for contributions to their Individual …
Read MoreIRS Provides Guidance on Certain Distributions From Terminating 403(b) Plans
WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service have issued guidance for employers and employees with terminating 403(b) plans that fund benefits through 403(b)(7) custodial …
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Income Ranges for Determining IRA Eligibility Change for 2021
WASHINGTON, D.C. — The Internal Revenue Service announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2021 in Notice 2020-79, posted this week …
Read More IRS: Deadline to Return Distributions to Retirement Accounts Is Aug. 31
WASHINGTON, D.C. — The Internal Revenue Service is reminding IRA owners, beneficiaries or workplace retirement plan participants who received a Required Minimum Distribution (RMD) this year that they have until …
Read MoreNew Law Provides Relief for Eligible Taxpayers Who Need Funds from IRAs and Other Retirement Plans
WASHINGTON, D.C. — The Internal Revenue Service is providing a reminder that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable …
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IRS: Seniors, Retirees Not Required to Take Distributions from Retirement Accounts this Year
WASHINGTON, D.C. — The Internal Revenue Service is reminding seniors and retirees that they are not required to take money out of their IRAs and workplace retirement plans this year.
Read MoreIRA Contributions Made by July 15 Count as 2019 Tax Deduction
WASHINGTON, D.C. — The Internal Revenue Service is reminding people that contributions to traditional Individual Retirement Arrangements (IRAs) made by the postponed tax return due date of July 15, 2020, …
Read MoreIRS Announces Rollover Relief for Required Minimum Distributions from Retirement Accounts that Were Waived Under the CARES Act
WASHINGTON, D.C. — The Internal Revenue Service announced that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity to roll …
Read MoreRelief for Taxpayers Affected by COVID-19 Who Take Distributions or Loans from Retirement Plans
WASHINGTON, D.C. — The Internal Revenue Service released Notice 2020-50 (PDF) to help retirement plan participants affected by the COVID-19 coronavirus take advantage of the CARES Act provisions providing enhanced access …
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