Important employee benefits-related provisions of 1998 tax legislation
Article Abstract:
Changes were made to many provisions of the Tax Code which concern employee benefits by the IRS Restructuring and Reform Act of 1998 and the Surface Transportation Revenue Act of 1998. 401(k) hardship distributions will be subject only to the early withdrawal penalty since rollovers into qualified benefit plans, which would be subject to the 20% withholding rule, are no longer allowed. Other changes include those concerning deferred compensation timing rules, fringe benefits, capital gains holding periods, and Roth IRAs.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1998
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Labor Department weighs in on ERISA coverage of owner-employees
Article Abstract:
The US Labor Dept. in Advisory Opinion 99-04A stated that individuals who perform services for businesses in which they are equity holders are ERISA working owners who may be treated as multiemployer benefit plan employee participants. The opinion addresses conflicts with other regulations and with court opinions under the Labor Management Relations Act.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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