Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN cardAfter a false start in 2022 when it failed to pass through Congress, the Secure Act 2.0 was passed in a flurry of year-end legislation. This two hour course will cover the important changes in savings and distributions of retirement plans that impact individuals. Employers will also need to consider how Secure Act 2.0 will affect the administration of existing plans or the creation of new ones. This course will provide a concise look at these hot topics.
Publication Date: August 2024
Designed For
This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise businesses and individuals that have these tax implications. All in-house and public practice tax professionals will benefit from this timely and insightful seminar.
Topics Covered
- Implications for individuals
- Changes to the Saver’s Credit
- Changing the required minimum distribution rules for Roth 401(k)s
- Changes to required beginning dates for required minimum distributions of retirement plans
- Penalty-Free Withdrawals for Certain Emergency Expenses
- Special provisions for firefighters and military personnel spouses
- Increases in catch-up contributions
- Impact on 529 plans
- Opportunities for student loan payment matching
- Implications for Employers
- Starter § 401(k) plans for small employers
- Requiring automatic 401(k) enrollment
- Improving worker access to emergency savings
- Increasing part-time workers’ access to retirement accounts
- Statute of Limitations on excise taxes imposed on overcontributions to retirement plans
- Multiple employer §403(b) plans
- Automatic portability provisions
- Other changes in the administration of company retirement plans
Learning Objectives
- Identify the newest tax developments contained in the Secure Act 2.0
- Identify the new provisions modifying the administration of employer retirement plans
- Identify the expanded contribution and catch-up limits for individuals
- Identify the new required beginning dates for distributions
- Identify the newest developments on required minimum distribution dates
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Allison McLeod
Allison M. (Yee) McLeod, LL.M., JD, CPA, is currently a Senior Lecturer at the University of North Texas in Denton, Texas. She received Bachelor of Business Administration and Juris Doctor degrees from Baylor University, and a Master of Legal Letters (LL.M.) degree specializing in Taxation from the Southern Methodist University School of Law. Professor McLeod has also studied British and Art History at the University of Sussex, England.
Prior to joining the UNT faculty in 2010, Professor McLeod held the position of Director of Tax Planning and IRS Audits for Lehigh Hanson North America, a major manufacturer of cement, aggregates and other building materials. Her practice included both federal and international tax planning. Professor McLeod also spent thirteen years specializing in Tax Planning with the JCPenney Corporation, Inc., and two years with Deloitte & Touche in Dallas.
Professor McLeod has taught at the university level graduate classes on Ethics, Tax Research, Multi-jurisdictional Taxation, Individual Taxation and Corporate Income Tax in the past and currently teaches Financial Accounting and Ethics. She has also taught at the UNT College of Law as adjunct faculty. Since 2011, Professor McLeod has been honored to present live and on-line ethics CPE classes to CPAs across the nation. She also serves as an expert witness in accounting malpractice cases and maintains a small private practice serving individuals and small businesses. Professor McLeod has also taught at the University of North Texas College of Law as adjunct faculty. She has served on the Professional Ethics Committee of the Texas Society of CPAs and the AICPA CPA Exam REG Subcommittee.
Professor McLeod is licensed to practice law by the State Bar of Texas since 1992 and has been a Certified Public Accountant since 1993.