Tax News
Post details: Extension of Transition Relief for Indian Tribal Government Retirement Plans to Qualify as Governmental Plans Under Code Sec. 414(d) (Notice 2007-67)
08/10/07
Extension of Transition Relief for Indian Tribal Government Retirement Plans to Qualify as Governmental Plans Under Code Sec. 414(d) (Notice 2007-67)
CCH (cch.taxgroup.com) reports:
Transitional relief under Notice 2006-89, I.R.B. 2006-43, 772, allowing certain Indian tribal government retirement plans (ITG plan) to qualify as governmental plans under Code Sec. 414(d), is extended from September 30, 2007 until six months after the IRS issues guidance on the issue.
The Pension Protection Act of 2006 (P.L. 109-280) amended Code Sec. 414(d) to allow an ITG plan to qualify for certain exemption purposes if substantially all of the services performed by all of the plan participants are essential government functions that are not also commercial activities. Under Notice 2006-89, an ITG plan could qualify as a government plan under Code Sec. 414(d) by following a reasonable and good faith compliance standard. The notice also provided special rules for "mixed" ITG plans, which are plans that provide benefits to employees substantially all of whose work is in essential governmental functions that are not commercial activities and to employees who perform commercial activities. In addition, certain plan amendments may prevent an ITG plan from utilizing the extended relief. Notice 2006-89 is modified.
Notice 2007-67, 2007FED ¶46,579
Other References:
Code Sec. 414
CCH Reference - 2007FED ¶19,156D.021
CCH Reference - 2007FED ¶19,156D.28
Tax Research Consultant
CCH Reference - TRC RETIRE: 69,352
Tax News
Daily Tax News
| Mon | Tue | Wed | Thu | Fri | Sat | Sun |
|---|---|---|---|---|---|---|
| << < | > >> | |||||
| 1 | 2 | 3 | 4 | 5 | 6 | |
| 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| 21 | 22 | 23 | 24 | 25 | 26 | 27 |
| 28 | 29 | 30 | 31 | |||
Search
Categories
Archives
- District of Columbia --Corporate and Personal Income, Sales and Use Taxes: Second FY 2010 Budget Support Approved
- Tax Court Lacked Jurisdiction Where Deficiency Notice Not Mailed to Estate's Last Known Address (Rule Est., TCM)
- Return Preparers Permitted Certain Disclosures to Solicit New Business and to Professional Liability Insurance Carriers (IR-2009-121; Rev. Rul. 2010-4; Rev. Rul. 2010-5)
- Regulations Address Disclosure and Use of Return Information (T.D. 9478; NPRM REG-131028-09)
- Final, Temporary and Proposed Regulations Address the Use of Controlled Corporations to Avoid Application of Code Sec. 304 (T.D. 9477; NPRM REG-132232-08)
- Ohio --Sales and Use Tax: Sourcing Changes Explained
- London International Financial Futures and Options Exchange Recognized as Qualified Board or Exchange (Rev. Rul. 2010-3)
- Guidance on Elective Exclusion From Code Sec. 956 Obligation Definition, Determination of Readily Marketable Securities, Extended (Notice 2010-12)
- Temporary Suspension of AHYDO Rules Extended to 2010 (Notice 2010-11)
- Illinois --Sales and Use Tax: Airline's Second Refund Claim Barred by Statute of Limitations
- Florida --Sales and Use Tax: County Denied Injunctive Relief Against On-line Travel Companies for Collection of Tourist Development Taxes
- Extended Statute of Limitations for Assessment Applied upon Failure to Disclose Son-of-Boss Partnership Transaction; Disclosure Regulations Not Invalid (BLAK Investments, TC)
- more...
Misc
Syndicate this blog 
What is RSS?
powered by
Original template design by François PLANQUE.
