A Section 125 plan is part of the IRS code that enables and allows employees to take taxable benefits, such as a cash salary, and convert them into nontaxable benefits. These benefits can be deducted from an employee's paycheck before taxes are paid. Cafeteria plans are particularly good for...
It gets complicated. The rules for a 1031 exchange include a requirement that the proceeds of the property sale be placed in escrow until the like-kind property transaction is finalized. The properties must be considered like-kind by the IRS. There also arecritical deadlinesinvolved. Working with...
(A)Limit where claim filed within 3-year period. If the claim was filed by the taxpayer during the 3-year period prescribed in subsection (a), the amount of the credit or refund shall not exceed the portion of the tax paid within the period, immediately preceding the filing of the claim...
IRS Releases Final Regulations Interpreting the Code Section 415 Limits on Benefits Under Tax-Qualified Retirement PlansFackler, Stephen W
IRS Issues Document Corrections Program for Deferred Compensation Plans Under Code Section 409A, Practical U.S./Domestic Tax Strategies, Vol. 9, No. 12, pp. 7–11Leslie E. DuPuyDaniel L. HogansMims Maynard Zabriskie
Chandler, Darlene
Two associations are approved by the IRS for tax exempt...Gary Porter
Section 1250 of the U.S. Internal Revenue Code establishes that the IRS will tax a gain from the sale of depreciated real property as ordinary income, if the accumulated depreciation exceeds the depreciation calculated with the straight-line method. ...
Unrecaptured Section 1250 gain relates to an IRS tax rule directing that depreciation be recaptured when a gain is realized on the sale of depreciable real estate.