mwyatt Posted August 2, 2012 Posted August 2, 2012 Anyone have any insight as to when the threshold rates will be released by IRS (hopefully not September 29th as in past practice?)
Effen Posted August 2, 2012 Posted August 2, 2012 Apparently there is "debate" inside the IRS related to how they should produce a 25 year average when the underlying bonds didn't exist 25 years ago. They are gathering opinions about how best to extrapolate the rates. I have heard they are informally targeting August 31st, but I also know they have been getting considerable pressure to come up with something sooner. I am telling clients I should know something before the October quarterlies are due. 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.
mwyatt Posted August 2, 2012 Author Posted August 2, 2012 Hopefully this won't be a situation where they provided "clarification" on the 6% exemption for DC contributions for the 2008 plan year on 9/14/2009 (thanks for the lead time).
Effen Posted August 2, 2012 Posted August 2, 2012 FYI, the Academy sent this letter today. http://actuary.org/files/MAP21_letter_8_2_12.pdf 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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