With tax season in full swing, the Internal Revenue Service wants taxpayers to be sure they’re not overlooking ways they could lessen their tax liabilities. To take advantage of one method, though, taxpayers have to be fairly quick, because there’s a deadline to meet.…

Read more about IRS Reminds Taxpayers About IRA Deadline

New guidance has been issued by the Department of the Treasury and the Internal Revenue Service for employers and employees with terminating 403(b) plans.…

Read more about New Guidance Provided on Terminating 403(b) Plans

Taxpayers trying to plan their 2021 deductible retirement plan contributions will be happy to learn that the Internal Revenue Service this week published Notice 2020-79.…

Read more about IRS Announces 2021 Income Ranges for IRA, Saver’s Credit Eligibility, and More

IRA owners, beneficiaries and workplace retirement plan participants who got a Required Minimum Distribution (RMD) this year have until Aug. 31 to rollover or repay the distribution in order to avoid being taxed on the payments.…

Read more about Aug. 31 is the Deadline to Return Distributions to Retirement Accounts

Taxpayers can dip into Coronavirus Aid, Relief, and Economic Security Act-specified retirement accounts without suffering a penalty, according to an Internal Revenue Service press release published yesterday. This reminder comes just days after the $600 unemployment benefits included in that legislation expired.…

Read more about CARES Act Allows Penalty-Free Withdrawals from Some Retirement Plans