Effen Posted September 22, 2010 Posted September 22, 2010 If a client elects funding relief under PRA10 for 2009, do you think that should be marked as a method change in the SB? I think not, but I'm trying to figure out how to alert the IRS that they took the relief. I will designate it on an attachment where I illustrate the amortization bases, but I'm wondering if I should do something more? This client made a formal election to accept the relief. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
Andy the Actuary Posted September 22, 2010 Posted September 22, 2010 . . . but I'm [wondering] if I should do something more? . . . Yes, you should pray that Congress does not repeal the relief retroactively! Your approach makes sense. Relief was granted after the 2009 SB was issued. Suspect the 2010 SB will have some relief reporting provision. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
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