The IRS has updated its procedures for defined benefit plans changing funding methods and revoking an election related to interest rates. The revised procedures are effective January 1, 2018. However, taxpayers may elect to apply them for earlier requests. Funding Method Change Rev. Proc. 2000-40 provided procedures for obtaining automatic approval for certain funding method […]
The post IRS Updates Defined Benefit Plan Funding Method Change Procedures (Rev. Proc. 2017-56; Rev. Proc. 2017-57) appeared first on Tax & Accounting Blog.