New safe harbors for separate plan coverage
Article Abstract:
Section 414(r) provides employers that run qualified separate lines of business (QSLOBs) an exception to the requirement that nondiscrimination tests for minimum participation and minimum coverage of pension plans be conducted on an employer-wide basis. The separate line of business exception granted by Section 414(r) may be used by small businesses that provide only a portion of their workers with a pension plan and by larger businesses that provide separate plans for several groups of workers. The Final Regulations under Section 414(r) were issued in Dec 1991 and are set to be effective after a one year period that allows for modifications. These Regulations specify three steps for establishing what constitute QSLOBs: identifying lines of business, testing the separateness of lines of business and meeting the statutory safe harbor or any of the five administrative safe harbors.
Publication Name: Taxation for Accountants
Subject: Business
ISSN: 0040-0165
Year: 1992
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Planning strategies to maximize tax benefits from charitable contributions after TRA '86
Article Abstract:
There are still substantial tax benefits to be obtained from charitable contributions, despite changes made by the Tax Reform Act of 1986. Charitable contributions of appreciated property may subject a taxpayer to the alternative minimum tax (AMT). There are a number of methods by which taxpayers can minimize or avoid their AMT liability, such as contributing appreciated property to a 'non-qualifying' charitable lead trust.
Publication Name: Taxation for Accountants
Subject: Business
ISSN: 0040-0165
Year: 1988
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