On April 13, 2020, Lisa Tavares, Carol Calhoun, and Gregory Matisoff published “The SECURE Act: What Accountants Should Know When Advising Their Business Clients” in Accounting Today. The following is an excerpt:
It may seem like the distant past now in the midst of the coronavirus pandemic, but it was only a few months ago that Congress passed a major piece of legislation on retirement plans. On Dec. 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. The act makes extensive changes to the rules affecting tax-qualified, employer-sponsored retirement plans. This article will highlight certain SECURE Act changes that accountants should know for advising their business clients with respect to their employer plans.