What SECURE Act 2.0 Means for Tax Professionals: Tax Planning for 2023 & Beyond

The SECURE 2.0 Act is now law. President Biden signed the SECURE 2.0 Act of 2022 into law as part of the wider government financing omnibus measure on December 29, 2022. This legislation expands on the original SECURE Act of 2019 (Setting Every Community Up for Retirement Enhancement). , which President Trump signed into law in late 2019

The legislation provides a slate of changes for both small business owners and individuals that could help strengthen the retirement system—and Americans' financial readiness for retirement. 

This session highlights the tax and non-tax provisions of the SECURE 2.0 Act of 2022. Although many of the provisions are not effective until after December 31, 2023, planning is necessary to address these tax provisions. For example, the new law expands the autoenrollment rules, and coverage requirements of part-time workers, the introduction of new exceptions to the 10% early distribution rules, and distribution rules unexpected needs to name a few. Thus, clients are going to hear a lot about the new legislation from the media and are going to expect you to be up on the issues.

To ensure that all tax professionals are quickly brought up to speed on the SECURE 2.0 Act's additions, modifications, and enhancements, as well as their potential impact on the way clients prepare for retirement. Many prospective retirees will notice additional aspects of flexibility provided by this legislation and will want to understand how it affects their short and long-term plans.

This webinar will cover the changes to the legislation, illustrate them, and highlight the effective dates so that you can be ready to respond to your client’s inquiries.

• Review the tax provision changes that are effective after the date of enactment. 
• Apply the new retroactive first-year elective deferrals rules for sole proprietors.
• Review the change of the additional 6 percent tax on corrective excess contributions.
• Present the new exceptions to the 10% early distribution tax.
• Present the other tax provision changes that are effective in the following year. 
• Present the new autoenrollment tax credits and startup tax credits for businesses.
• Review the new distribution rules for certain emergency expenses by individuals.
• Discuss the status of the extender provisions.

This course covers the following Major Topics: 

• CAA 2023 and SECURE 2.0 Act
• Expiring 2022 Business Tax Provisions Status
• Qualified Plans and IRAs Contributions
• Expiring 2022 Individual Tax Provisions Status
• Minimum RMD Excise Tax Remedy
• Notice 2022-53

This webinar is recommended for:

• CPAs
• Tax Accountants
• Enrolled Agents
• Accountants
• Tax Preparers
• Tax Attorney
• Tax professionals who want to understand everything about the proposed RMD regulations