Description

The SECURE 2.0 Act of 2022 impacts many Internal Revenue Code tax sections pertaining to retirement income for businesses and individuals. Many of these tax provisions did not become applicable until calendar year 2024. Since the signing of this tax bill into law, Treasury recently issued corrections to some of these provisions while other provisions are awaiting clarification by Congress.

Why you should Attend

Saving for retirement is achieved in a variety of ways: Social Security, Employer sponsored retirement plans, and individual retirement plans. The SECURE 2.0 Act modifies and introduces tax provisions encouraging employers to sponsor retirement savings and individuals to participate in such plans. But like most tax laws, the interpretation of the law may be tricky to understand, may have several tax sections effective in a later tax year (such as 2024), and require technical corrections. Therefore, this session discusses the most relevant provisions and modifications introduced by the SECURE 2.0 Act that are applicable for tax year 2024 and the technical corrections issued.

Areas Covered in the Session

• Discuss the tax provisions that are effective for 2024
• Review the 2024 SECURE 2.0 technical corrections provided by Treasury
• Discuss the technical correction bill pending in Congress
• Present other tax provision changes that are effective in the following year
• Explain the upcoming changes to the saver’s match provision
• Discuss the status of the extender provisions

Who should Attend

Tax preparers, CPAs, Accountants, Local and regional accounting firms, Financial Planners, Consultants