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EGTRRA Tax Credit & 401(a) Governmental Plans

Guest lwhittle

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Guest lwhittle

I have several governmental 401(a) plans with 414(h) "pick-up" provisions as clients. They are being overwhelmed with comments from tax preparers about why their "employee contributions" are not shown on their W2 form so that they can take advantage of the new credit.

It is my understanding that these plans are not included in the language as eligible for the credit. Does anyone have any suggestions as to where I can refer the tax preparers to confirm my position? I am trying to draft a memo to explain the situation, and was wondering if anyone else has come across this problem.

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