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IRS Issues

This station houses posts and commentary on regulatory requirements and developments at the IRS affecting NTSA members, including the regulatory development process, changes in existing requirements, best practices in ensuring that clients remain in compliance with the tax code and IRS rules, and inside-the-IRS news.


 

 

 

IRS Issues

IRS Issues

By NTSA Net Staff12/22/2015 • 0 Comments

In MarketBeat, Ellie Lowder discusses how the saver’s tax credit can help make it possible for low-income employees to participate in a 403(b) plan. READ MORE

By NTSA Net Staff12/22/2015 • 0 Comments

In Tech Talk, Ellie Lowder tells us whether a person who contributes to a 403(b) and 457(b) and is over age 70½ can contribute to a Roth IRA. READ MORE

By NTSA Net Staff12/15/2015 • 0 Comments

MarketBeat offers ways to pursue effective opportunity to participate in a 403(b) plan — and in the process take stock of how well the plan is adhering to universal availability and avoid not only errors but also the possibility of an audit. READ MORE

By NTSA Net Staff12/14/2015 • 0 Comments

In Tech Talk, Ellie Lowder tells us whether a legal separation from a spouse qualify one for a qualified domestic relations order, or if only a divorce can lead to a QDRO. READ MORE

By NTSA Net Staff12/14/2015 • 0 Comments

The IRS on Dec. 14 issued the 2015 Cumulative List of Changes in Plan Qualification Requirements; it is to be used by plan sponsors and practitioners submitting determination letter applications for plans during the period beginning Feb. 1, 2016 and ending Jan. 31, 2017. READ MORE

By NTSA Net Staff12/10/2015 • 0 Comments

The IRS has updated the frequently asked questions about the Form 5500 series — and did so in a manner that makes them useful for 2015 reporting. READ MORE

By NTSA Net Staff12/9/2015 • 0 Comments

IRA holders and those who provide them services may be interested to know that the IRS has made modifications to the Form 5329, “Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts.” READ MORE

By NTSA Net Staff12/9/2015 • 0 Comments

The IRS in Notice 2015-86 has provided guidance on how the U.S. Supreme Court's ruling Obergefell , which overturned state laws and constitutional amendments that defined marriage as occurring between a man and a woman, applies to retirement plans. READ MORE

By NTSA Net Staff12/8/2015 • 0 Comments

In Tech Talk, Ellie Lowder tells us whether a public school district can exclude employees who work 30 or less hours per week from participation in their 457(b) plan, or if it is forbidden to do so as it would be if the plan was a 403(b).
READ MORE

By NTSA Net Staff12/3/2015 • 0 Comments

The Department of Labor (DOL), IRS and Pension Benefit Guaranty Corporation (PBGC) on Dec. 3 released advance copies of the Form 5500 Series to be used for 2015 reporting. READ MORE

By NTSA Net Staff12/1/2015 • 0 Comments

Legislation that would amend the rules for church plans and 403(b)s in a variety of ways is now before both chambers of Congress. READ MORE

By NTSA Net Staff11/30/2015 • 0 Comments

In MarketBeat, Linda Segal Blinn argues that it’s important to learn the key differences between 403(b) and 457(b) plans and offers a discussion of how they differ in several key respects.
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By NTSA Net Staff11/30/2015 • 0 Comments

In Tech Talk, Ellie Lowder tells us whether it is true that one cannot continue to contribute to a SIMPLE IRA after age 70½, and also must take required minimum distributions. READ MORE

By NTSA Net Staff11/20/2015 • 0 Comments

In MarketBeat, David Blask answers questions that can arise concerning penalty-free premature distributions from retirement plans such as 403(b) plans and IRAs that are allowed due to disability. READ MORE

By NTSA Net Staff11/20/2015 • 0 Comments

In Tech Talk, Ellie Lowder tells us if a key employee of a public school district who retired but had not established a 403(b) account can establish one after he left the job. READ MORE

By NTSA Net Staff11/17/2015 • 0 Comments

In MarketBeat, Robert Toth argues that when a 403(b) plan purchases collective trust interests there can be trouble in the details and identifies two issues that must be addressed. READ MORE

By NTSA Net Staff11/9/2015 • 0 Comments

In Tech Talk, Ellie Lowder tell us whether, in calculating the 403(b) 15 year catch-up contribution opportunity, one includes all previous 403(b) and 457(b) contributions or just the previous 403(b) contribution. READ MORE

By NTSA Net Staff11/6/2015 • 0 Comments

The IRS has issued a draft of the Form 5500-EZ to be used by one-participant retirement plans for 2015 information reporting. READ MORE

By NTSA Net Staff11/3/2015 • 0 Comments

PenServ Plan Services President and NTSA Immediate Past President Sue Diehl, in the latest NTSA Podcast, “457 Top Hat Plans: Tips and Traps,” discussed non-profit employers looking to set up 457(b) plans like their governmental counterparts. READ MORE

By NTSA Net Staff11/2/2015 • 0 Comments

The Social Security Administration and the IRS have issued the Fall 2015 edition of their joint online newsletter, the SSA/IRS Reporter, This edition includes information on issues related to retirement plans and compliance. READ MORE

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