The OBBBA’s permanent increase in the federal estate and gift tax exclusion to $15 million per individual opens new opportunities for high-net-worth clients but also requires a thoughtful review of existing plans.

The IRS announced an extension to certain tax filings and payments for individuals and businesses in designated disaster areas in Mississippi.

The SECURE Act 2.0, short for Setting Every Community Up for Retirement Enhancement, is a continuation and expansion of the retirement efforts that began with the original SECURE Act of 2019.

The IRS’s new proposed guidance provides more clarity on how forfeitures are allowed to be used and places responsibility on employers to manage forfeitures more proactively. Whether you sponsor a 401(k), a pension plan, or both, now is the time to revisit your forfeiture procedures and ensure full compliance before the end of 2025.

The Voluntary Fiduciary Correction Program (VFCP) is a long-standing initiative by the U.S. Department of Labor (DOL) that allows plan sponsors and fiduciaries to voluntarily correct certain violations of the Employee Retirement Income Security Act of 1974 (ERISA) without facing enforcement action or civil penalties.

When ASC 842 was first adopted, many companies felt relief once the initial recognition, accounting, and disclosures were complete. However, compliance does not end there. Companies must remain alert to identify and properly account for new leases as well as changes to existing leases.