PPA Regs Delayed, Guidance Issued

The IRS delayed implementation and provided transitional guidance for proposed regulations under new provisions of the Pension Protection Act of 2006 that relate to funding requirements and benefits of single-employer defined-benefit pension plans. Prop. Treas. Reg. §§ 1.430(f)-1 and 1.430(h)(3)-2, which address maintaining certain funding balances and use of substitute mortality tables, respectively, were originally proposed to apply to plan years beginning on or after Jan. 1, 2008.

In Notice 2008-21, the IRS announced a one-year delay in their effective date. For plan years beginning during 2008, taxpayers should note that they may use mortality tables that are sub­stitutes for the standard tables of IRC § 430(h)(3)(A) only if those tables are approved pursuant to Revenue Pro­cedure 2007-37. The guidance also covers other interim considerations including a transition rule for calculation of benefit limitations under IRC § 436.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.