Preservation | Family Wealth Protection & Planning

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for February 2023. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

The SECURE 2.0 Act of 2022, signed into law by President Joe Biden on December 29, 2022, makes significant changes to the administration and taxation of retirement plans. It addresses many practical concerns that surfaced after the passage of the original SECURE Act in 2019 and during the pandemic. Some of the key changes are set out below.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for January 2023. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.