TD 9673: IRS Allows the Purchase of Longevity Annuities

The IRS issued final regulations regarding longevity annuity contracts.  The final rules modified minimum distribution rules to permit the purchase of longevity annuities.  Older retirement ages and longer life expectancies have lead to the real risk of running out of retirement funds.  The new final regulations allow longevity annuities which … Continue reading

IRS Announces New Education Program for Tax Preparers

The IRS announced that there will be new voluntary program designed to encourage continuing education for tax return preparers.  The program would include a course in basic tax filing, ethics, and other federal tax law courses.  Unenrolled tax preparers will be able to obtain a record of completion after finishing … Continue reading

ESOPs Safe From Tax Reform

Senate Finance Committee member Pat Robers, R-Kan, stated that employee stock ownership plans (ESOPs) are fairly safe from tax reform.  He noted that people do not want to change a program that has been so successful.  Further, a bipartisan group introduced the Promotion and Expansion of Private Employee Ownership Act … Continue reading