In 2002, the IRS issued guidance on captive insurance. The three new revenue rulings and a revenue procedure address deductibility of premiums paid to a wholly owned insurance subsidiary. The second revenue ruling can be found HERE.
The Internal Revenue Service (IRS) has released Notice 2023-75, containing cost-of-living adjustments for 2024 that affect amounts employees can contribute to 401(k) plans and individual retirement accounts (IRAs). 2024 Retirement...
As we previously told you, section 603 of the SECURE 2.0 Act added section 414(v)(7) to the Internal Revenue Code. Section 414(v)(7) requires that catch-up contributions to 401(k) plans made...
On Dec. 29, 2022, the IRS announced the 2023 optional standard mileage rates, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical, or...
