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Change in Accounting Method Issues Arising from VEBA Terminations and IBNR Deductions
Deloitte via BenefitsLink.com [Guidance Overview] Apr. 14, 2009
Excerpt: This article addresses the accounting method issues that arise in two scenarios. In the first scenario, an employer terminates a welfare benefit fund, such as voluntary employees' beneficiary association (VEBA). In the second scenario, an employer without a VEBA begins taking deductions under IRC Section 162(a)(1) for medical claims that are incurred but not reported (IBNR) as of the end of the employer's tax year.
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