Source: http://fuguerre.wordpress.com/category/agencies/irs/
Timestamp: 2013-06-20 11:32:12
Document Index: 157069695

Matched Legal Cases: ['§301', '§301', '§412', '§411', '§411', '§411']

IRS | Blogging Employee Benefits
Filed under: IRS, Regulations — Fuguerre @ 8:47 pm If this one doesn’t at least tempt a smile, you’re probably taking our work way too seriously.
In the September 21 Federal Register, the IRS corrected bloopers found in its August final regulations on the 411(d)(6) anti-cutback rule. Among the mistakes, which the correction observes “may prove to be misleading and are in need of clarification,” one key sentence of 1.411(d)-3(a)(3) is corrected to read as follows -
The original version of the final regulations, published August 9, had that sentence as follows -
Filed under: IRS, Legislation, Pensions — Fuguerre @ 2:28 pm The IRS has published interest rates for determination of current liability for single employer pension plans for plan years beginning during 2006, as modified by PPA §301. [Notice 2006-75]
A Notice of Some Passing Interest
Filed under: IRS, Pensions — Fuguerre @ 7:00 am Yes, PPA §301(b) amended IRC §412(b)(5)(B)(ii)(II) to extend PFEA relief from use of 30-year Treasury rates for current liability valuation through the 2006 and 2007 plan years. And yes, we expect the President to sign PPA into law next week. But until actual enactment of PPA, technically the snap-back interest rates remain the prevailing law. So the IRS gives us Notice 2006-74, quite certain to be obsolete well before its scheduled August 28 publication in Internal Revenue Bulletin 2006-35.
Leave a Comment	Follow-Up Final Regs on 411(d)(6) Protected Benefits
Filed under: IRS, Regulations — Fuguerre @ 6:37 am A plan amendment violates the anti-cutback prohibition of IRC §411(d)(6) if it places greater restrictions or conditions on a participant’s right to protected benefits, even if the amendment simply adds a restriction otherwise permissible under §411′s vesting rules, under final IRS regulations on §411(d)(6) protected benefits reflecting the Supreme Court’s 2004 Heinz ruling. The final regulations also provide a utilization test whereby certain early retirement benefits, retirement-type subsidies, or optional forms of benefit may be eliminated. [71 FR 45379]
Filed under: Amendments, IRS, SIMPLE IRA — Fuguerre @ 10:01 am If your SIMPLE IRA plan has not been amended for the tax law changes enacted by EGTRRA by the deadlines contained in Revenue Procedure 2002-10, your plan is no longer eligible to receive tax deferred contributions for yourself or your employees after December 31, 2001. However, amending your plan under the EGTRRA relief initiative will enable you to retain the many favorable tax benefits of your plan.