Tag: IRS

Regulation July 1, 2024

How the Supreme Court’s Chevron Reversal Impacts Institutional Investing

Courts are no longer required to defer to interpretations of law offered by executive agencies that regulate defined benefit and contribution savings.

Regulation June 20, 2024

IRS Announces Intent to Close Basis-Shifting Tax Loopholes

The IRS and Treasury say the changes could raise about $50 billion over 10 years.

Regulation April 11, 2024

IRS Proposes Regulations to Codify Stock Buyback Tax

Stock buybacks valued at under $1 million would not be subject to the tax.

Regulation January 19, 2024

Suggestions Sought for Retirement Plan Reporting, Disclosure

With a report on improvements due in 2025, the IRS, PBGC and EBSA are accepting feedback during a 90-day comment period.

Regulation January 2, 2024

SECURE 2.0 Cash Balance Reforms Codified by IRS

The changes should make it easier for defined benefit plans to pass IRS backloading tests.

Regulation July 13, 2023

Senate, House Advance Very Different SEC, IRS Spending Bills

House Republicans support blocking the SEC’s market structure proposals, but Senate Democrats do not.

Risk May 30, 2023

Biden-McCarthy Agreement Would Extend Debt Ceiling to January 2025

In exchange for extending the debt ceiling, the Biden administration agreed to budget cuts and changes to the federal energy permitting process.

Pensions May 24, 2021

Swiss Life Admits to Conspiring to Cheat IRS

The insurance giant will pay more than $77 million for helping taxpayers hide nearly $1.5 billion from IRS.

Regulation April 16, 2021

IRS Seeks to Track Down Cryptocurrency Tax Scofflaws

Court grants summons to identify taxpayers using Circle Internet Financial to conduct cryptocurrency transactions.

Risk March 19, 2021

Swiss Bank Admits to Helping US Clients Evade Taxes

Zuirch-based 271-year-old private bank Rahn+Bodmer will pay $22 million to settle charges it defrauded the IRS.

Manager Selection October 20, 2020

Software Firm CEO Indicted in $2 Billion Tax Evasion Scheme

Robert Brockman allegedly used a web of offshore entities to hide private equity income from the IRS.

Regulation October 2, 2020

IRS, Treasury Soften Blow of Endowment Tax

NACUBO welcomes rule changes but still opposes tax, which it says diminishes resources for students.

Risk May 5, 2020

Pandemic Relief Could Risk Spousal Retirement Security

Women at higher risk of being hurt by easing of retirement savings requirements.

Regulation November 22, 2019

Here’s How to Boost Tax Collection, Says Larry Summers

Increase IRS audits, which are shrinking. This would help narrow the budget deficit, ex-Treasury secretary contends.

Regulation July 15, 2019

IRS Issues Endowment Tax Regulations

Higher education foundations finally get guidance on 2017 excise tax.