February 5, 2016

IRS Issues Fact Sheet-FS-2016-8-A summary of tax law changes for 2015- including retirement accounts

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The IRS has issued fact sheet- FS-2016-8, in which they provide a summary Avenue tax law changes for 2015. This includes changes for retirement savings account. The following are the retirement plans related topics that were covered.

The deadline for making IRA contributions for 2015 is April 18, 2016 for some and April 19, 2016. This is tied to the deadline for filing once tax return, or for filing for an extension. Reminder: tax filing extensions do not apply to IRA contributions.
The new ABLE Accounts for Some People with Disabilities
The new myRA program (a starter retirement account)
The one-Rollover-Per-Year Limit for IRA Owners

The Fact Sheet can be viewed here

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IRS Asked to confirm IRA assets must be held by IRA custodian-trustee

The Department of Treasury and Internal Revenue Service (Service) invite public comment on recommendations for items that should be included on the 2016-2017 Priority Guidance

IRS Updates list of Designated Private Delivery Service

The IRS has updated its list of Designated Private Delivery Service. These can be used for mailing IRA contributions and sending payments to the IRS.

IRS Updates areas eligible for disaster relief

The IRS has updated the list of areas eligible for disaster relief. Please click here for the list If you live in one of these

IRS Issues Guidance on one IRA-to-IRA Rollover Rule- Quick and Dirty Summary

The IRS issued Announcement 2014-32, in which they provide additional guidance on the one-per-year limitation on IRA-to-IRA rollovers. This announcement is a follow-up to Announcement

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IRS Issues Fact Sheet-FS-2016-8-A summary of tax law changes for 2015- including retirement accounts

Learn More

By:

Keep Learning

IRS Asked to confirm IRA assets must be held by IRA custodian-trustee

IRS Updates list of Designated Private Delivery Service

IRS Updates areas eligible for disaster relief

IRS Issues Guidance on one IRA-to-IRA Rollover Rule- Quick and Dirty Summary

The Retirement Dictionary was created to provide IRAs and employer retirement plan information in an easy-to-understand manner for individuals at all levels of expertise and to help educate everyone about how retirement plans work.

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Save time with our cheat sheets, fact sheets, checklists & books!

IRS Issues Fact Sheet-FS-2016-8-A summary of tax law changes for 2015- including retirement accounts

Learn More

By:

Keep Learning

IRS Asked to confirm IRA assets must be held by IRA custodian-trustee

IRS Updates list of Designated Private Delivery Service

IRS Updates areas eligible for disaster relief

IRS Issues Guidance on one IRA-to-IRA Rollover Rule- Quick and Dirty Summary

The Retirement Dictionary was created to provide IRAs and employer retirement plan information in an easy-to-understand manner for individuals at all levels of expertise and to help educate everyone about how retirement plans work.

Get Started

About

Categories

Be among the first to know when

IRA Rules Change

IRA Rules
Change