For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Compliance November 18, 2016
IRS to Host Webcast About EPCRS Changes
Attendees will learn about changes set forth in IRS Revenue Procedure 2016-51.
Reported by Rebecca Moore
The Internal Revenue Service (IRS) is hosting a free webcast about the changes to the Employee Plans Compliance Resolution System (EPCRS).
Attendees will learn about the:
- Elimination of determination letter application requirements;
- New methodology for determining Audit Closing Agreement Program (CAP) sanctions;
- Modifications to the Self-Correction Program; and
- Consolidation of prior guidance.
You Might Also Like:
HSA Limits to Rise for 2025
Workers will be able to contribute $4,300 annually for self-only coverage and $8,550 for family coverage.
IRS Releases Explain SECURE 2.0-Related Tax Form Changes
Participation incentives and Roth employer contributions will have to be reported as gross income.
Inherited IRA RMD Final Rules Postponed to 2025
The IRS will not enforce RMDs for inherited IRAs under the 10-year rule until at least 2025.