Truncated IRS Guidance Agenda Heartens Benefits Attorneys

A leaner IRS guidance plan for 2021 suits benefits advisers just fine. And those attorneys say they expect the noncontroversial tax priorities to survive the scrutiny of the presidential transition unscathed.

The tax agency recently trimmed its benefits agenda in half, highlighting 14 priorities for the coming year—down from the nearly two dozen projects regulators were still plodding through in late September.

More than half of the current projects have moved through the regulatory process within the past decade—including a handful of retirement-related tax breaks and pandemic relief efforts that saw bursts of activity over the past six months. ...