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 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

By NTSA Net Staff10/29/2015 • 0 Comments

The IRS issued a reminder in IR-2015-122 on Oct. 29 that those born before July 1, 1945 generally must receive payments from their IRAs by Dec. 31. READ MORE

By NTSA Net Staff10/26/2015 • 0 Comments

In Tech Talk, Ellie Lowder tells us which forms you would use if you are helping an employer with 10 employees establish a SIMPLE IRA. READ MORE

By NTSA Net Staff10/21/2015 • 0 Comments

As expected, most of the compensation limits for 2016 are unchanged, because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment — but there were some increases in the rates the IRS released on Oct. 21. READ MORE

By NTSA Net Staff10/16/2015 • 0 Comments

In MarketBeat, Ellie Lowder discusses the need for advisors to have a clear grasp of the orphan account requirements as they assist clients with understanding those requirements and managing the 403(b) accounts held by de-selected providers. READ MORE

By NTSA Net Staff10/6/2015 • 0 Comments

The NTSA has made two recommendations to the IRS in a comment letter concerning IRS Announcement 2015-19 and how the announcement affects 403(b) plans. READ MORE

By NTSA Net Staff10/6/2015 • 0 Comments

In MarketBeat, Robert Toth discusses the IRS’ Advisory Committee on Tax Exempt and Government Entities and its recommendations concerning 403(b)s. READ MORE

By NTSA Net Staff10/5/2015 • 0 Comments

The IRS Tax Exempt & Government Entities Office has issued its priorities for fiscal year 2016; among them are plans that concern TEGE’s work with employee plans and with government entities and shared services. READ MORE

By NTSA Net Staff10/2/2015 • 0 Comments

On Oct. 1, the American Retirement Association (ARA) submitted a comment letter in response to IRS Announcement 2015-19 in which the IRS requested comments regarding changes to the Employee Plans Determination Letter (DL) Program. READ MORE

By NTSA Net Staff9/30/2015 • 0 Comments

The latest issue of Employee Plans News, which the IRS issued on Sept. 30, provides comprehensive access to information concerning forms, correcting mistakes, plans and more that have been updated since the last issue of the newsletter. READ MORE

By NTSA Net Staff9/28/2015 • 0 Comments

The IRS on Sept. 23 released an updated set of instructions for Form 8950, Application for Voluntary Correction Program (VCP) Under the Employee Plans Compliance Resolution System (EPRCS). READ MORE

By NTSA Net Staff9/21/2015 • 0 Comments

IRA investments were more heavily allocated to stock equities in 2013, says “IRA Asset Allocations 2013, and Longitudinal Results, 2010-2013,” a study recently released by the Employee Benefits Research Institute (EBRI). READ MORE

By NTSA Net Staff9/15/2015 • 0 Comments

The IRS issued procedures Sept. 14 for a waiver from the requirement that Forms 8955 and 5500-EZ be filed electronically. READ MORE

By NTSA Net Staff9/11/2015 • 0 Comments

In MarketBeat, Linda Segal Blinn offers a closer look at what the IRS’ Employee Plans Compliance Unit (EPCU) is, what it does and and how it works. READ MORE

By NTSA Net Staff9/9/2015 • 0 Comments

Recently the Internal Revenue Service’s Employee Plans Compliance unit announced plans to collaborate with the Department of Labor’s Office of the Chief Accountant to contact Form 5500 non-filers identified using payroll and plan data in their records. READ MORE

By NTSA Net Staff9/1/2015 • 0 Comments

In MarketBeat, Michael Webb outlines differences under current law between and employees and independent contractors, and explains the impact of that determination on 403(b) and other types of retirement plans. READ MORE

By NTSA Net Staff8/27/2015 • 0 Comments

In Tech Talk, Ellie Lowder discusses the rules regarding the timing of the special catch up provision for 457 plans and how they apply to a specific scenario. READ MORE

By NTSA Net Staff8/27/2015 • 0 Comments

The IRS on Aug. 25 released a draft version of the Form 5500-EZ to be used in benefit plan reporting concerning 2015. READ MORE

By NTSA Net Staff8/25/2015 • 0 Comments

In MarketBeat, Diane Capone discusses insights offered at the recent 2015 NTSA 403(b) Summit on how to determine if your plan is at risk of an IRS audit and what to do after one. READ MORE

By NTSA Net Staff8/21/2015 • 0 Comments

In Tech Talk, Ellie Lowder tell us what a client with an orphan 403(b) account can do when the company holding it refuses her request to roll it over into an IRA. READ MORE

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