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Fall Forum  ...

  • IRS Denies Posthumous Rollover Waiver Despite Plan Error

    September 6, 2007 – In private letter ruling (PLR) 200735029, the IRS denied a request by the estate of a deceased plan participant for a waiver of the 60-day rollover limitation, an...

  • Second House 401(k) Fee Disclosure Bill May Be Introduced

    September 6, 2007 – In July, H.R. 3185, the 401(k) Fair Disclosure for Retirement Security Act of 2007, was introduced by Rep. George Miller (D-Calif.). Rep. Richard Neal (D-Mas...

  • IRS Broadens August Disaster Relief

    September 7, 2007 – On August 30, 2007, the IRS issued news releases granting tax act deadline extensions to residents of several Minnesota and Ohio counties following severe storms ...

  • IRS Confirms Tax Act Relief for Members of Armed Forces

    September 7, 2007 – The IRS recently issued Revenue Procedure 2007-56, which replaces previous guidance describing time-sensitive tax-related acts that can be postponed in speci...

  • IRS Spokesperson Suggests September for Automatic Enrollment Rules

    September 11, 2007 –Speaking at a conference sponsored by the American Law Institute–American Bar Association (ALI-ABA), IRS representatives described guidance projects currentl...

  • DOL Issues Post-PPA Guidance on "Safest Annuity" Choice

    September 13, 2007 – In this week’s Federal Register is guidance issued by the Department of Labor's Employee Benefits Security Administration (EBSA) concerning annuities purchased w...

  • IRS Cancels Hearing on HSA Comparable Contributions
    September 13, 2007 – The IRS has published a notice in the Federal Register that it has cancelled a public hearing on proposed regulations (REG-143797-06) governing employer comparable contribut...
  • New York Storm-Related Tax Relief

    September 13, 2007 – The IRS has updated news release NY-2007-30 to add Kings County, New York, to certain storm-related tax relief.  This release was first issued September 5, ...

  • Oklahoma Tax-Related Disaster Relief Expanded

    September 18, 2007 – The IRS has updated news release OK-2007-07 to include additional counties in tax-related relief granted following storms and flooding that struck the state of O...

  • Guidance on Rights to Information From Multiemployer Plans

    September 18, 2007 – The Department of Labor has issued proposed regulations affecting certain multiemployer (union) retirement plans. These regulations, issued in response to ...

  • October 2007 Interest Rates

    September 18, 2007 – The IRS has released the applicable federal interest rates for October 2007 as posted in Revenue Ruling 2007-63. These rates are used for such purposes as calcul...

  • GUST Determination Letter Program to Begin Closure

    September 19, 2007 – The IRS has issued Announcement (Ann.) 2007-90, identifying December 18, 2007, as the beginning of a temporary closure of its (GUST) determination letter program...

  • Second 401(k) Fee Disclosure Bill Introduced in House

    September 19, 2007 – The Mutual Fund Fee Reform Act, H.R. 3225, has been introduced in the U.S. House of Representatives. H.R. 3225 is the second bill introduced in the House th...

  • Updated Form 8886-T Addresses Abusive Tax-Shelter Transactions

    September 20, 2007 – The IRS has issued a September 2007 version of detailed instructions for Form 8886-T, Reportable Transaction Disclosure Statement. The form is used to report par...

  • House Bill Would Require SEC Action on 12b-1 Fees

    September 20, 2007 – The Mutual Fund Fee Reform Act (H.R. 3225) introduced in the House yesterday is intended to influence the disclosure of fees associated the mutual fund inve...

  • Revised Form 8886-T Regarding Prohibited Transactions Released

    September 25, 2007 – The IRS has posted a September, 2007-dated version of Form 8886-T, Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter. The IRS last week released t...

  • Tax Relief for Storm Victims of North Dakota

    September 25, 2007 – The IRS has updated news release MN-2007-02, providing tax-related deadline relief to residents of Grand Forks County, ND.  This relief applies to tax retur...

  • Final SEC Rules Include Certain "Broker Exceptions" for Banks

    September 27, 2007 – The U.S. Securities and Exchange Commission (SEC) has adopted final rules to implement the broker exceptions for banks under Section 3(a)(4) of the Securities Ex...

  • Updated Rules for Retirement Plan Representation Before the IRS

    September 27, 2007 – The IRS has issued final regulations governing practice before the IRS by persons who represent tax clients. These rules include requirements for "enrolled retir...

  • IRS Issues 2007 Instructions for Form 8606

    September 27, 2007 – The IRS has issued the 2007 version of its detailed instructions for Form 8606, Nondeductible IRAs. Form 8606 is used by taxpayers to acc...

  • IRS Publishes Corrections to Final 403(b) Plan Regulations

    September 28, 2007 – The IRS has published a number of minor corrections to the recently-released IRC Sec. 403(b) plan regulations. The corrections are generally of a grammatical nat...

  • IRS Issues 2007 Form 5329

    September 28, 2007 – The IRS has issued the 2007 version of Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts. This form is used to accou...

  • IRS Issues Revised Form W-9 and Instructions

    September 28, 2007 – The IRS has issued an updated Form W-9, Request for Taxpayer Identification Number and Certification, and its detailed instructions. Form W-9 is used by some fin...

  • IRS Posts 2007 Instructions for Form 5329

    October 2, 2007 – The IRS has posted the 2007 version of its detailed instructions for Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts....

  • Hearings This Week on 401(k) Disclosure Legislation

    October 2, 2007 – Rep. George Miller (D-Calif.), Chairman of the House Education and Labor Committee, has announced that he will hold a public hearing this Thursday, October 4, ...

  • IRS Grants Deadline Relief to Illinois Storm Victims

    October 3, 2007 – The IRS has issued news release IL-2007-27, providing  tax-related relief to certain Illinois residents in counties declared presidential disaster areas follow...

  • IRS Issues 2007 Form 8606, Nondeductible IRAs

    October 4, 2007 – The IRS has posted the 2007 tax year Form 8606, Nondeductible IRAs.  (The 2007 Instructions for Form 8606 were announced in Latest News September...

  • IRS Posts Tips on 401(k) Plan Potential Mistakes