2024-04-22 IRS Extends Limited RMD Relief But Warns They Expect This to Be the Last Time

04/20/24 • -1 min

This week we look at:

IRS again waives penalties for certain RMD distributions for inherited IRAs and retirement plans, but indicates this should be the last time
FinCEN adds more Q&As to BOI FAQ for the first time since January

An audio only version of this week’s update can be streamed or downloaded via the link below.

Slides and links to the source documents can be downloaded as a PDF via the link below.

This week we look at:

IRS again waives penalties for certain RMD distributions for inherited IRAs and retirement plans, but indicates this should be the last time
FinCEN adds more Q&As to BOI FAQ for the first time since January

An audio only version of this week’s update can be streamed or downloaded via the link below.

Slides and links to the source documents can be downloaded as a PDF via the link below.

This week we look at

Tax Court reverses position on validity of a regulation it had upheld four years ago
US Supreme Court hears oral arguments in case involving estate tax value of a corporation that received life insurance to redeem the majority shareholder’s estate
IRS Criminal Investigation Divisions announces update on COVID relief related investigations and convictions

An audio only version of this week’s session can be downloaded or streamed below

A PDF with the links and slides can be downloaded below:

This week we look at:

Final regulations issued on credit transfer provisions of the Inflation Reduction Act
Tax Court rules the law does mandate a minimum level of attention by a supervisor when approving a proposed penalty
IRS announces the end of the Direct File pilot and will announce the next steps shortly

An audio only version of this week’s broadcast can be streamed or downloaded below.

A PDF with this week’s slides and links to citations can be downloaded below.