| 08/21/2012 | IRS 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.
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| 08/20/2012 | IRS 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.
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| 08/14/2012 | IRS 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.
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| 08/03/2012 | PLRs 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
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| 08/03/2012 | House 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.
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| 08/01/2012 | IRA 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.
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| 07/30/2012 | Tax 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.
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| 07/30/2012 | DOL 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.
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| 07/27/2012 | Universally 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.
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