Trusts & Estates | | Oct 19, 2020
Amidst the worldwide COVID-19 crisis, many US citizens who have worked abroad and paid into pension trusts may have missed a significant change made by the US Internal Revenue Service (IRS) on 02 March 2020. page (10-11 on the pdf) https://press.ggi.com/tep/06/
The IRS announced and released Notice 2023-74 today which provides a further transition period for the requirement placed on third party payors by the American Rescue Plan Act (ARP) of 2021.
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On September 14th the Internal Revenue Service placed a moratorium on the processing of new Employee Retention Tax Credit claims until at least 2024.
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A 529 plan is a tax-advantaged savings account designed to be used for a beneficiary’s educational expenses. This beneficiary can be a child, another family member, or even yourself.
