Planning Briefs

This is an unusual year-end tax planning season. The pace of federal tax law reform has increased in the four decades and accelerated since the pandemic.

In addition, tax simplification seems like a long-forgotten goal in recent tax reforms. For example, in February 2022, rules implementing the SECURE Act, which was signed into law December 2019, changed a highly technical part of the Internal Revenue Code affecting distributions from federally qualified retirement plans (QRPs) and IRAs, and it will change retirement funding and estate planning decisions for millions of Americans.