Technical Facts
IRS SSA Mailing Error
IRS Notice CP-283-C penalty notices dated prior to September 1, 2023 do not require a response as these were the result of an IRS system glitch.
Notice Requirements for ERISA Plans
Distribution/Timing Requirements - For any participant directed 401(k) and ERISA 403(b) plans
Plan Limits & Cost of Living Adjustments
Plans Limits may fluctuate annually for Cost of Living Adjustments made by the IRS
Important Due Dates
It is imperative that one be aware of essential due dates associated with employee contributions, deduction deadlines, and tax filings
Tax Credit for Plan Startup Costs
The SECURE Act has provided sizable tax credits to plans established for tax years after 2019