News
Predeath Distribution Cannot Be Treated as Spouse Beneficiary Assets
In two identical private letter rulings (one complete, the other with information redacted) a taxpayer requested that the IRS allow assets distributed from his deceased…
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Proposed Bill Would Enhance 401(k) Plan Automatic Deferrals
Sen. Rick Santorum (R-Pa.) has introduced the 401(k) Enhancement Act (S. 1819), a bill intended to stimulate greater employer use of automatic plan enrollment and…
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Widespread Effects of Recent Pronouncement and Legislation
On September 16, 2005, the IRS released Announcement 2005-70 outlining numerous retirement plan-related relief for victims of Hurricane Katrina. In addition, on September 23, 2005,…
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IRS Announcement 2005-70: Retirement Plans Can Make Loans, Hardship Distributions to Hurricane Katrina Victims
The IRS released Announcement (Ann.) 2005-70 on September 15, 2005, to provide broad-based retirement plan distribution relief to individuals who lived or worked in…
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Legislation: Retirement Plan Distribution Relief for Hurricane Katrina Victims
Congress has been working diligently to provide assistance to victims of Hurricane Katrina with the House and the Senate recently passing slightly different relief…
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Roth 401(k)s Heat Up as the IRS Begins to Issue Guidance
What is a Roth 401(k)? A Roth 401(k), or a designated Roth contribution program, is a new type of employee contribution that Internal Revenue Code…
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The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
On April 20, 2005, President Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the Bankruptcy Act of 2005). This enactment concludes…