The 2022 act affected a wide array of retirement fund and pension plan provisions, with many changes taking effect as of this year. This article highlights many of the most noteworthy ones, along with relevant IRS guidance and congressional plans for technical corrections as of this writing.
Be aware of the self-rental rules when a taxpayer owns an operating business and leases property to it through a separate entity that the taxpayer also owns. Self-rentals can create both tax planning risks and opportunities.
Kathryn Kennedy, CPA, J.D., CFP, Partner, Cerity Partners.
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
