The IRS issued Proposed Treasury Regulations under Internal Revenue Code Section 457 regarding deferred compensation plans on June 22, 2016 which can be viewed at the following link. At the same time, the IRS also released new Proposed Treasury Regulations under Internal Revenue Code Section 409A which can be viewed at the following link. […]
Entries Tagged as 'Proposed Regulations'
IRS Issues Deferred Compensation Regulations
July 21st, 2016 · Comments Off on IRS Issues Deferred Compensation Regulations · 409A, 457(b), 457(f), deferred compensation, Proposed Regulations
IRS Withdraws Proposed Gift Substantiation Regulations
January 27th, 2016 · Comments Off on IRS Withdraws Proposed Gift Substantiation Regulations · charitable contributions, Proposed Regulations, tax returns
A donor who claims a charitable contribution deduction for any contribution of $250 or more requires that the donor obtain substantiation in the form of a contemporaneous written acknowledgment from the charity. Under an exception to this requirement (Internal Revenue Code Section 170(f)(8)(D)), a contemporaneous written acknowledgment is not required if the charity/donee organization files […]