k man Posted March 16, 2020 Share Posted March 16, 2020 is there any chance this deadline is going to get pushed back in light of the coronavirus? Link to comment Share on other sites More sharing options...
Riley Britton Posted March 16, 2020 Share Posted March 16, 2020 I don't see why it would. Link to comment Share on other sites More sharing options...
Mike Preston Posted March 17, 2020 Share Posted March 17, 2020 1 hour ago, Riley Britton said: I don't see why it would. You are kidding, right? Belgarath 1 Link to comment Share on other sites More sharing options...
shERPA Posted March 17, 2020 Share Posted March 17, 2020 Whole freakin’ country is being shut down, how can they not? I carry stuff uphill for others who get all the glory. Link to comment Share on other sites More sharing options...
Mike Preston Posted March 17, 2020 Share Posted March 17, 2020 Government folk think differently than most of us. We shall see, huh? Link to comment Share on other sites More sharing options...
ratherbereading Posted March 17, 2020 Share Posted March 17, 2020 It may be, although with so many people working from home now, who knows? I guess we will have to wait and see. 4 out of 3 people struggle with math Link to comment Share on other sites More sharing options...
RatherBeGolfing Posted March 17, 2020 Share Posted March 17, 2020 AICPA is expecting a relief announcement this week, and from what I understand the IRS has indicated that they will be lenient with "for cause" penalty forgiveness in areas with no formal relief. I know we have requested relief on the retirement side as well, but I'm not sure if they will address general tax relief and pension relief at the the same time. Link to comment Share on other sites More sharing options...
shERPA Posted March 17, 2020 Share Posted March 17, 2020 19 hours ago, Mike Preston said: Government folk think differently than most of us. We shall see, huh? Quite true. Yup, we shall see. I carry stuff uphill for others who get all the glory. Link to comment Share on other sites More sharing options...
Lou S. Posted March 18, 2020 Share Posted March 18, 2020 ARA is requesting a 120 day extension of the deadline. I'd be surprised if it's not granted but who knows. As others have said this is the government after all. Link to comment Share on other sites More sharing options...
k man Posted March 18, 2020 Author Share Posted March 18, 2020 23 minutes ago, Lou S. said: ARA is requesting a 120 day extension of the deadline. I'd be surprised if it's not granted but who knows. As others have said this is the government after all. an extension is a no brainer. plans aren't even submitted anymore. if for no other reason give people one less thing to worry about in these trying times. Link to comment Share on other sites More sharing options...
Riley Britton Posted March 19, 2020 Share Posted March 19, 2020 On 3/16/2020 at 8:20 PM, Mike Preston said: You are kidding, right? No. I am not. Too much fear and panic. Are you old enough to remember the swine flu? Link to comment Share on other sites More sharing options...
Mike Preston Posted March 19, 2020 Share Posted March 19, 2020 I just deal in the facts of this event. Lots of employers will be temporarily shuttered. Are you saying you can't see why they should based on what you think should happen or what is actually happening? Link to comment Share on other sites More sharing options...
Effen Posted March 19, 2020 Share Posted March 19, 2020 My understanding is ABC and other lobbyist are working with Congress on relief. They expect something to be passed before the Easter break. They are talking about extending deadlines, as well as other interest rate and investment smoothing methods to lesson the funding impact on plan sponsors. Likely nothing in the next few days, but maybe in the next few weeks. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice. Link to comment Share on other sites More sharing options...
shERPA Posted March 20, 2020 Share Posted March 20, 2020 Considering that whole states are being closed down, it may be a moot point. One the economy is dead, plan assets will be worthless. Who cares if the plan is qualified at that point? I carry stuff uphill for others who get all the glory. Link to comment Share on other sites More sharing options...
Effen Posted March 20, 2020 Share Posted March 20, 2020 Cue Mr. Blue Sky... The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice. Link to comment Share on other sites More sharing options...
figure 8 Posted March 27, 2020 Share Posted March 27, 2020 Has anyone heard any updated information about this? I saw that the CARES Act is supposed to address amendment deadlines, but I haven't seen anything yet that address the DB restatement deadline. Link to comment Share on other sites More sharing options...
figure 8 Posted March 27, 2020 Share Posted March 27, 2020 There we go: https://www.irs.gov/retirement-plans/deadlines-extended-for-403b-plans-and-pre-approved-defined-benefit-plans Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now