08/21/2012IRS Releases Revised Form 4419
 August 21, 2012 – The IRS has released a 2012-dated version of Form 4419, Application for Filing Information Returns Electronically (FIRE). This application is used to apply for electronic filing of various information returns, such as Forms 5498, 1099-R, 8955-SSA, through the IRS’s FIRE System.   Read More
08/20/2012IRS Releases Electronic Filing Specification for Form 8955-SSA
 August 20, 2012 – The IRS has issued Internal Revenue Bulletin (IRB) 2012-34, which contains Revenue Procedure (Rev. Proc.) 2012-24 containing specifications for electronic filing of Form 8955-SSA, Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits.   Read More
08/14/2012IRS Updates Guidance on Filing Forms Electronically
 August 14, 2012 – The IRS has issued Revenue Procedure 2012-30 providing information on updating financial organization or service provider procedures for the electronic filing of information returns under the IRS Filing Information Returns Electronically (FIRE) System.   Read More
08/07/2012IRS PLRs Allow Lump-Sum Distributions After Lifetime Payouts Have Begun
 August 7, 2012 – The IRS has issued two private letter rulings (PLRs) in which the IRS allows retired former employees receiving lifetime payouts from defined benefit (DB) plans to elect to receive lump-sum distributions.   Read More
08/03/2012PLRs Address Trust, Estate IRA Beneficiary Issues
 August 3, 2012 – The IRS continues to issue rulings granting favorable IRA distribution options to taxpayers who receive IRA assets through trusts or estates. This guidance, in the form of private letter rulings (PLRs), has increasingly granted beneficiaries of trusts and estates the option to have an inherited IRA set up in their name, when in fact, the trust or estate was the named or the default beneficiary of the IRA   Read More
08/03/2012House Votes to Make TSP Subject to IRS Levy
 August 3, 2012 – The U.S. House of Representatives has passed legislation (H.R. 4365) to clarify that federal Thrift Savings Plan (TSP) accounts are subject to IRS levy for taxes due, just as are other employer-sponsored retirement plans.   Read More
08/01/2012IRA Charitable Distribution Included in Senate Bill
 August 1, 2012 – Senate Democratic and Republican leaders have reportedly reached an agreement that would extend certain expired or expiring tax provisions, including the popular IRA qualified charitable distribution (QCD) option.   Read More
07/30/2012Tax Extenders Bill With Possible IRA Provision
 July 30, 2012 – It is being reported that Congress, at an impasse over extension of the so-called Bush-era tax cuts, may consider extending a group of expired or expiring tax provisions, possibly including a provision that would affect some IRA owners.   Read More
07/30/2012DOL Withdraws Controversial Investment Disclosure Position
 July 30, 2012  – The Department of Labor, Employee Benefits Security Administration (EBSA), has revised guidance previously issued concerning required investment disclosures to participants and beneficiaries in participant-directed individual account plans.   Read More
07/27/2012Universally Available Retirement Plan Option
 July 27, 2012 – Sen. Tom Harkin (D-IA), Chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee, has issued a report in which he proposes a new retirement savings program intended to address the growing retirement savings shortfall among American workers.   Read More
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