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Question 235: What guidelines are used for determining whether an income-producing entity is a "trade or business" that might be under common control pursuant to IRC 414(c)? If it can be argued that the entity is not a trade or business, then how will IRC 414(o) apply? Can an entity that is not a "trade or business" establish a qualified retirement plan? |
Answer: The answers to your questions are: (1) What guidelines? (2) What IRC 414(o)? and (3) Why not? I discuss IRC 414(o) in Chapter 15 of my book, Who's the Employer. |
Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.
The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.
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