Guest curious jorge Posted January 18, 2005 Posted January 18, 2005 Assume IRS has imposed excise tax on fiduciary of plan for prohibited transaction. Can plan sponsor that is exempt org. pay taxes to IRS on behalf of the fiduciary?
mbozek Posted January 19, 2005 Posted January 19, 2005 The IRS doesnt care who writes the check as long as it doesn't bounce but the exempt orgs bylaws or state law may prevent such a payment. There is a tax issue of whether the payment is income to the fid. mjb
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