Legislation: Spending Bill with Tax Extenders, Retirement Changes Signed into Law

The president December 20 signed into law H.R. 1865, Further Consolidated Appropriations Act, 2020. While primarily a vehicle for funding the federal government through September 30, 2020, the bill includes a host of tax measures. The bill includes the SECURE Act which makes significant changes to retirement plans and funding, including moving required minimum distributions until a taxpayer reaches the age of 72 up from 701/2. The bill also contains numerous tax extenders through 2020, including many business credits and deductions. The bill also repeals three ACA excise taxes including the ‘Cadillac’ tax on high cost health plans ...