FJR Posted December 6, 2002 Posted December 6, 2002 Any reason why a single plan sponser with no ee's can't receive the tax credit for starting a new plan in 2002?
MJ Hartman Posted December 6, 2002 Posted December 6, 2002 the credit is only available if you have at least 1 nhce that is participating. No tax credits for this guy's plan.
FJR Posted December 6, 2002 Author Posted December 6, 2002 can you point me to any language that spells that out?
david rigby Posted December 6, 2002 Posted December 6, 2002 See original langauge in EGTRRA, section 619. http://thomas.loc.gov/cgi-bin/query/F?c107...pMUUQL:e222716: I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Guest Rosemary Raymer Posted January 4, 2003 Posted January 4, 2003 I received this e-mail from the IRS today regarding what forms are used for the sponsor's credit in case anyone is interested: "This credit is part of the General Business Credit-GBC (Form 3800) and is computed on Form 8881. For a corporation (Form 1120), the GBC is taken on Schedule J (Line 6d), Form 1120S (S corporation) Line 13 Schedule K, and Form 1065 Line 13 Schedule K. Note that this credit is a pass through item for a partnership and S corporation."
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