On September 9, 2021 the Department of the Treasury released their annual Priority Guidance Plan. The 2021–2022 Priority Guidance Plan contains 193 guidance projects that are priorities for allocating Treasury Department and Service resources during the 12-month period from July 1, 2021 through June 30, 2022 (the plan year). The projects on the plan will be the focus of our efforts during the plan year. However, the plan does not
provide any deadline for completing the projects.
Additional copies of the 2021–2022 Priority Guidance Plan can be obtained from the IRS website at http://www.irs.gov/uac/Priority-Guidance-Plan.
In Notice 2021-28, the Department of the Treasury (Treasury Department) and the Internal Revenue Service (Service) solicited recommendations for items to be included in the plan from all interested parties, including taxpayers, tax practitioners, and industry groups.
Following are some of items included in the Priority Guidance Plan as they pertain to IRAs and qualified plans including solo 401k plans.
Regulations and other guidance under §72(t) relating to the 10 percent additional tax on early distributions.
Guidance relating to certain IRS, Tax Exempt and Government Entities, Employee Plans programs, including the Pre-approved Plan Program, the Determination Letter Program, and the Employee Plans Compliance Resolution System (EPCRS).
Update to IRA regulations under §§219, 408, 408A, and 4973 for statutory
changes and additional issues.
Final regulations on the application of the normal retirement age regulations under §401(a) to governmental plans. Proposed regulations were published on January 27, 2016.
Regulations relating to SECURE Act modifications to §401(a)(9) and addressing other issues under §401(a)(9).
Regulations relating to SECURE Act modifications to certain rules governing