Retirement


The Treasury Department and the IRS made final regulations under IRC sections 401(k) and 401(m) that allow sponsors to design retirement plans in which employees can make designated Roth IRA contributions. As a result, workers can choose to make all or part of their 401(k) deferrals on an after-tax basis, so that the qualified distribution of those contributions and their earnings will be tax-free. The regulations took effect January 3, 2006, and apply to plan years beginning on or after January 1, 2006 ( www.treas.gov/press/releases/js3068.htm ).

SPONSORED REPORT

Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.