The Reed Report
A short rundown of the federal and Indiana tax news our team is watching this week — what changed, what it means, and what deadlines are coming up.
Treasury and the IRS issued proposed regulations for employers that choose to contribute to Trump Accounts on behalf of employees or their dependents. The accounts are a new tax-advantaged savings vehicle for minors created under recent legislation; the proposed rules address how employer contributions work in practice.
Source: IRS Newsroom
As required under SECURE 2.0, the IRS released sample forms meant to simplify and standardize direct rollovers to and from retirement plans. Plan administrators and participants have dealt with inconsistent paperwork across providers for years; a standard form should mean fewer delays and rejected rollovers going forward.
Source: IRS Newsroom
Mark the calendar — Indiana’s Tax Amnesty payment-plan enrollment deadline (September 9) and the federal third-quarter estimated tax deadline (September 15) land in the same week next month. If either applies to you, now is the time to pull the numbers together rather than scrambling in early September.
Source: Indiana DOR / IRS Newsroom
Questions about how any of this affects your return or your business?
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