Maximize your retirement savings with the Saver’s Tax Credit. Claim up to $1,000 ($2,000 for couples) on your 2023 tax return. Find out if you qualify!
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IRS
The New IRS Pre-Examination Retirement Plan Compliance Program
Can a new IRS pre-examination retirement plan pilot program assist your business? Learn more about program requirements on the Watkins Ross blog.
IRS Update – Retirement Plan Documentation Deadline
The IRS retirement plan documentation deadline is fast approaching. Read more about your retirement plan liability on the Watkins Ross blog.
Internal Revenue Service Provides Temporary Relief and Other Guidance on Mid-Year Reductions of Safe Harbor Contributions to 401(k) Plans due to COVID-19
On June 29, 2020, the Internal Revenue Service (the “IRS”) issued Notice 2020-52 that provides temporarily relief to plan sponsors that amend their safe harbor Section 401(k) or 401(m) plans (“Safe Harbor Plans”) mid-year to reduce or suspend employer safe harbor...
2019 IRS Operational Compliance List
The 2019 IRS Operational Compliance List has been posted! This guide helps plan sponsors understand the compliance changes effective in the upcoming year.
Reducing Pension Plan Risk – Updated to Reflect IRS Notice 2019-18
Reducing pension plan risk has become a prudent consideration, especially for those plans that have frozen benefits. De-risk your pension plan today!
Is This a Sham Termination?
Is a distribution from a retirement plan valid if the participant is rehired after the distribution occurs or is this a sham termination?
How to Submit a Federal Withholding Tax Deposit
Although you cannot mail a check for a federal withholding tax deposit, there are a few options to submit these payments to the IRS electronically.
IRS Electronic Media Guidance
The IRS Electronic media guidance methods may be used to deliver most plan information required under the Internal Revenue Code.
Updated IRS Procedures for Correcting Retirement Plan Errors
IRS Revenue Procedure 2016-51 modifies the procedures for correcting retirement plan errors under the Employee Plans Compliance Resolution System (EPCRS).