Retirement | AccountingWEB.com

Fixes to Form 1099-R Could Boost Compliance, Inspector General Says

02/08/2012 - 15:24 - 498 reads - 1 comment

Changes to IRS tax form 1099-R could eliminate taxpayer confusion, improve compliance, and generate "substantial" revenue for the federal government, according to a report released Tuesday by TIGTA - "Opportunities Exist to Identify More Taxpayers Who Underreport Retirement Income."

FEI Top Challenges For CFOs in 2012

01/02/2012 - 15:15 - 607 reads

FEI has released the list chosen by its President and CEO, Marie N. Hollein, as the top challenges facing financial executives in 2012.

FEI

Social Security COLAs for 2012: Take the Bad with the Good

11/08/2011 - 13:07 - 5085 reads

The Social Security Administration (SSA) recently announced cost-of-living adjustments (COLAs) for 2012. There's both good news and bad news for your clients.

IRS Announces Pension Plan Limitations for 2012

10/21/2011 - 13:41 - 2844 reads

The Internal Revenue Service (IRS) has announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2012. In general, many of the pension plan limitations will change for 2012.

Your Social Security Check Is NOT in the Mail

10/13/2011 - 13:45 - 2650 reads - 1 comment

Do you have clients who still receive their Social Security checks in the mail? Mail carriers won't be dropping them in your clients' mailboxes in the near future.

Retirement Planning for Baby Boomers

09/20/2011 - 19:02 - 591 reads

Many of our parents and grandparents had the security of knowing that when they hit their pre-determined retirement age they’d be handed a commemorative gift, feted with a cake, and comforted with a lifetime of retirement checks.

Continuing Education

Prepare your clients for upcoming 401(k) regulations

08/16/2011 - 15:12 - 4308 reads

A new regulation set forth by the Department of Labor (DOL) states that 401(k) plan vendors will have until April 1, 2012, to disclose fees to plan sponsors, while plan sponsors will have until May 31, 2012, to disclose fees to employees on their quarterly statements.

GASB to propose changes to accounting for state pensions

07/05/2011 - 12:09 - 2631 reads - 1 comment

The Government Accounting Standards Board (GASB) will propose changes later this month to the method used by most U.S. state and local governments when they report unfunded pension liabilities on their balance sheets. The proposed changes could result in an increase in the amount of liabilities governments will report.

IRAs for minors are an investment in a child's future

05/11/2011 - 12:37 - 2380 reads

As traditional retirement age draws near for the Baby Boomer generation, many are wishing they had started saving earlier and more aggressively. If you want to help your children avoid that mistake, now is a perfect time to start them on the road to saving for a comfortable retirement.

2009 hiatus on mandatory IRA withdrawals contributes to 2010 penalties

04/19/2011 - 15:55 - 2261 reads

Some taxpayers who had arranged for the RMD to be automatically deposited into their checking accounts every December deactivated that service in 2009, when the withdrawal was not required. They're paying the price now in unexpected penalties.