Employees can bank vacation pay in 401(k) plan

Article Abstract:

Providing employees with the option to transfer the financial equivalent of their unused vacation pay to their 401(k) accounts may solve some problems with the treatment of vacation pay. Many employers find paying out vacation pay at the end of the year unsatisfactory, and most employees disfavor forfeiting unused vacation days. This alternative would be particularly valuable for highly compensated employees and senior employees with greater vacation allowances.

Employee Benefits NEC, Laws, regulations and rules, Employee benefits, Salary reduction savings plans, 401K plans, Employee vacations

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On an IRS mega-plan for costly and unnecessary random audits

Article Abstract:

The IRS expensive plan to triple the number of random audits of 1994 returns performed under its Taxpayer Compliance Measurement Program (TCMP) is unwarranted in an era of cost-cutting. Innocent citizens who prepare accurate returns are penalized by random audits. The exploratory TCMP audits cannot be justified on either a statistical or cost basis.

Analysis, Accounting and auditing, Practice, Tax auditing, Tax audits, United States. Internal Revenue Service, Taxpayer compliance

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Bank mutual funds and trust departments

Article Abstract:

Mutual funds and trust departments in the large banks are expanding their businesses and becoming more sophisticated in their investment strategies. One and five year ratios between the performances of bank and non-bank mutual funds have significantly improved upon 10 year ratios. Stock funds outsold bond funds by three to one by 1996 year end.

Banking industry, Services, Mutual funds, Trusts and trustees, Trustees, Trusts (Law)

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