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Time Is Running Out to Take Advantage of IRS Forfeiture Relief
PenChecks 
[Guidance Overview] Apr. 9, 2025 "The IRS considers it to be an operational failure if forfeitures remain unused beyond the 12-month deadline.... [T]he proposed regs provide transitional relief for old forfeiture balances. For any forfeitures incurred during any plan year that begins before January 1, 2024, the IRS will treat those forfeitures as having been incurred in the first plan year that begins on or after January 1, 2024." MORE >> |
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