20 tax changes Finance needs by year-end
As if your departments didn’t have enough to do before Dec. 31, IRS has issued a slew of updates for the new year. No worries — you’ll find them all here.
As if your departments didn’t have enough to do before Dec. 31, IRS has issued a slew of updates for the new year. No worries — you’ll find them all here.
We’re in the thick of it now! The major push toward year-end is upon us, which means that Finance is likely busier than it is at any other time of the year.
Employees with wages exceeding $145,000 in 2023 may hesitate to make catch-up contributions next year. They’ll be impacted by tax changes, as will employers. To complicate matters, there are still many unanswered questions about the tax changes, which the Secure 2.0 Act of 2022 put in place. Needless to say, this won’t make planning for […]
IRS just released guidance on a new type of emergency savings account, created under the Secure 2.0 Act of 2022. Employers can start offering pension-linked emergency savings accounts (PLESAs) in plan years that begin after December 31, 2023. By way of background, PLESAs are designed to help employees deal with financial emergencies. They’re short-term emergency […]
Employer retirement plans have been in the spotlight lately. Many employers are ahead of the game, offering workers a variety of options for saving and matching contributions. So how does your company measure up against your peers? Most are opting for traditional 401(k) plans, according to XpertHR’s 2021 Employee Benefits Survey. Sixty percent of employers […]
It’s that time again! The feds are churning out updates your finance department will need on Jan. 1.
Your company’s retirement plan works best when employees are using it … and using it to its full potential. So how confident are you that it’s happening?
The IRS just released the 2018 retirement plan contribution limits and, unlike last year, there are some key changes — along with murmurs of even greater ones.
The feds keep on cranking out the year-end updates! Up next: cost-of-living pension plan limits.
IRS released regs at the end of November, leaving retirement plan sponsors with just over a month to get their 401(k) plans up to speed. The regs pertain to long-term part-time employees’ eligibility to participate in 401(k) plans – starting with 2024 plan years! Although the regs are only at the proposed stage, IRS said […]
New year, new numbers, same old process! ‘Tis the season for the feds to start issuing all the key updates Finance departments everywhere will need on Jan. 1.
Heads up to Payroll and everybody in your organization making retirement plan contributions: the maximum amount that can be put toward 401(k)s will rise to $22,500 for 2023, according to IRS Notice 2022-55. It’s a significant 9.8% increase from the current $20,500. IRS is also applying that $22,500 retirement plan contribution limit to employees who […]
The IRS just released the 2017 retirement plan contribution limits, and the changes aren’t big ones.
The disparity between the benefits offered by large firms and those offered by small and mid-sized firms seems to be shrinking like the polar ice caps.
Among the many provisions of the Secure 2.0 Act, several deal with the paperwork responsibilities that fall on retirement plans. The Secure 2.0 Act, which became law on December 29, 2022, amends some sections of the Employee Retirement Income Security Act (ERISA) that deal with notices and statements. Let’s take a closer look at two […]
When it comes to 401(k) investments, it’s likely your employees are relying more heavily on target-date funds.
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