2022 Standard Federal Tax Reporter (CCH) Notice 2022-55, Internal Revenue Service, (Oct. 24, 2022)

Summary

• Other IRS Material: Standard Federal Tax Reporter (2022), Internal Revenue Service, Notice 2022-55, (Oct. 24, 2022)

  Notice 2022-55, I.R.B. 2022-43, October 24, 2022.

  Preapproved defined benefit plans: Six-year remedial amendment cycle: Cumulative list of changes: Inflation adjustments: Cost of living: 2023 adjusted items: Pension items.-

  [Code Secs. 25B, 61, 79, 125, 219, 401, 402, 404, 408, 408A, 409, 409A, 414, 415, 416, 419A, 430, 457 and 501]

  The 2023 cost-of-living adjustments (COLAs) that affect pension plan dollar limitations and other retirement-related provisions have been released by the IRS. In general, many of the pension plan limitations will change for 2023 because the increase in the cost-of-living index due to inflation met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged.

  Section 415 of the Internal Revenue Code ("Code") provides for dollar limitations on benefits and contributions under qualified retirement plans. ...