IRS Extends Temporary Nondiscrimination Relief for Closed Defined Benefit Plans: Today, the IRS released Notice 2018-69 extending the temporary nondiscrimination relief for closed defined benefit plans provided in Notice 2014-5. The notice makes relief available for plan years beginning before 2020 if the conditions of Notice 2014-5 are satisfied.
IRS Clarifies That Combat-Zone Contract Workers Qualify for Foreign Earned Income Exclusion: Under the Bipartisan Budget Act of 2018, enacted in February, contractors or employees of contractors supporting the US Armed Forces in designated combat zones may not qualify for the foreign earned income exclusion. Eligible taxpayers can choose to exclude their foreign income from gross income up to $103,900 for tax year 2018. For more information, please click here.