Loren D. Stark Company
EPIC Retirement Plan Services
Randall & Hurley, Inc.
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|Who Is Responsible For the Employer's Failure To Withhold Loan Payments?|
May 25, 2004
Excerpt: A recent Tax Court case addresses this issue. Since nearly all employers require the use of payroll deduction to repay participant loans, most practitioners have or will confront this issue. The employer's failure to withhold loan payments raises two issues: the tax consequences to the participant, and whether the employer has any liability.
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