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Defined Benefit Plans

Proposed Regs set ordering rule on limitation on multiemployer plan benefit suspensions

Proposed Regs set ordering rule on limitation on multiemployer plan benefit suspensions

Preamble to Prop Reg 02/09/2016; Prop Reg § 1.432(e)(9)-1 Proposed regs — Additional Limitation on Suspension of Benefits Applicable to Certain Pension Plans Under the Multiemployer Pension Reform Act of 2014 IRS has issued proposed regs that would provide guidance on the limitation that governs the application of a suspension of benefits under a multiemployer […]

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Temporary Regs Outline Participant Vote Requirement For Suspension Of Plan Benefits

Temporary Regs Outline Participant Vote Requirement For Suspension Of Plan Benefits

T.D. 9735, 08/31/2015, Prop Reg § 1.432(e)(9)-1T, Preamble to Prop Reg 08/31/2015, Prop Reg § 1.432(e)(9)-1 Under Code Sec. 432(e)(9), as amended by the Multiemployer Pension Reform Act of 2014, multiemployer defined benefit pension plans in critical and declining status are allowed to reduce the plan benefits payable to participants and beneficiaries (a “suspension of […]

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Regs will ban replacing defined benefit plan lifetime income with lump sum payment

Regs will ban replacing defined benefit plan lifetime income with lump sum payment

Notice 2015-49, 2015-30 IRB IRS has announced that it will amend the required minimum distribution (RMD) regs to provide that qualified defined benefit plans generally are not allowed to replace any joint and survivor, single life, or other annuity that is currently being paid with a lump sum payment or other accelerated form of distribution. […]

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IRS amends & expands pre-approved plan program and extends application date

IRS amends & expands pre-approved plan program and extends application date

Rev Proc 2015-36, 2015-25 IRB In a Revenue Procedure, IRS has issued updated procedures for issuing opinion and advisory letters regarding the acceptability of the form of pre-approved plans under Code Sec. 401, Code Sec. 403(a) and Code Sec. 4975(e)(7) . The changes include an expansion of the scope of the pre-approved program. IRS has […]

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10 things mutual fund companies won’t say

10 things mutual fund companies won’t say

As reported in the WSJ news article “10 Things Mutual Fund Companies Won’t Say,” there are several tips and concerns for the informed investor.  I particularly liked the tips: “cheap funds often outperform pricey ones,” and “we can’t beat the market.  In fact, all of the tips are “right on.”  Here’s the article: 1. Cheap […]

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IRS Tax Tips: Six Tips on a Tax Credit for Retirement Savings

IRS Tax Tips:  Six Tips on a Tax Credit for Retirement Savings

Six Tips on a Tax Credit for Retirement Savings If you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement, you may be eligible for a tax credit, depending on your age and income. Here are six things the IRS wants you to know about the Savers Credit: 1.  Income […]

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Tax Tip: Early Distribution from Retirement Plans May Have a Tax Impact

Tax Tip:  Early Distribution from Retirement Plans May Have a Tax Impact

Early Distribution from Retirement Plans May Have a Tax Impact Taxpayers may sometimes find themselves in situations when they need to withdraw money from their retirement plan early. What they may not realize is that that transaction may mean a tax impact when they file their return. Here are 10 facts from the IRS about […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney