| 04/11/2012 | Update on District of Columbia Withholding | | | April 11, 2012 – As announced earlier in Latest News,
the District of Columbia Council has passed the Targeted Retirement
Distribution Withholding Temporary Act of 2012. This act amends the
withholding requirements on a temporary basis, to apply District of
Columbia withholding only to lump-sum distributions from IRAs and
qualified retirement plans.
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| 04/03/2012 | IRS Releases Update SIMPLE IRA Plan Documents | | | April 3, 2012 – The IRS has released updated employer-level savings incentive match plan for employees of small employers (SIMPLE) IRA plan model forms carrying March 2012 revision dates. This includes Form 5304-SIMPLE, Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) – Not for Use With a Designated Financial Institution, and Form 5305-SIMPLE, Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) – For Use With a Designated Financial Institution.
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| 03/26/2012 | IRS Releases 2011 Version Form 5500-EZ | | | March 26, 2012 – This IRS has released the 2011 Form 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan, and its detailed instructions. This form and instructions may be accessed as follows.
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| 03/26/2012 | District of Columbia Amends Withholding Requirements | | | March 26, 2012 – The District of Columbia has amended its withholding requirements on an emergency basis to apply District of Columbia withholding only to lump-sum distributions from IRAs and qualified retirement plans. As of February 29, 2012, withholding is no longer required on periodic distributions and non-lump-sum distributions from IRAs and qualified retirement plans.
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| 03/23/2012 | IRS Releases 2011 Form 8955-SSA Instructions | | | March 23, 2012 – The IRS has released the 2011 instructions for Form
8955-SSA, Annual Registration Statement Identifying Separated
Participants With Deferred Vested Benefits. The IRS released the 2011
form a few days ago.
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| 03/21/2012 | Tax Deadline Relief for WV, TN Storm Victims | | | March 21, 2012 – The IRS has posted two news releases that announce deadline postponements granted as a result of severe storms and flooding in the states of West Virginia and Tennessee, beginning February 29, 2012. As of the time of this release, the covered counties in West Virginia include Lincoln, Marion and Wayne.
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| 03/21/2012 | IRS Corrects Certain March 2012 Interest Rates | | | March 21, 2012 – The IRS has issued Revenue Ruling (Rev. Rul.) 2012-12, correcting Rev. Rul. 2012-9 that provided the federal interest rates for March 2012. The March rates were announced last month at this Ascensus Latest News website. (The April 2012 interest rates were announced earlier this week.)
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| 03/20/2012 | IRS Issues 2011 Form 8955-SSA | | | March 20, 2012 – The IRS has released the 2011 version of Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits. This form has, for 2009 and later years, replaced Schedule SSA of Form 5500, Annual Return/Report of Employee Benefit Plan.
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| 03/19/2012 | April 2012 Interest Rates | | | March 19, 2012 – The IRS has released the applicable federal interest rates for April 2012 as included in Revenue Ruling 2012-11. These rates are used for such purposes as calculating retirement arrangement distributions that meet the substantially equal periodic payment requirements of IRC Sec. 72(t)(2)(A)(iv).
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