Found 19 Matching Items; Displaying 1 - 10.
IRC Section 4943(c)(7), Extension of period to dispose of certain assets
Section 4943 limits the involvement of a private foundation in the active conduct of a business enterprise by imposing tax on its excess business holdings. This Issue Snapshot explores the Service’s authority to grant discretionary five-year extensions of the initial five-year disposition period.
General Information
About Form 4768, Application for Extension of Time To File a Return and/or Pay U.S. Estate (and Generation-Skipping Transfer) Taxes
Information about Form 4768, including recent updates, related forms, and instructions on how to file. Form 4768 is used by an executor to apply for an extension of time to file Form 706, and/or to pay U.S. Estate (and Generation-Skipping Transfer) taxes in certain cases.
General Information
Trusts and Estates
Q&As for 2nd cycle pre-approved 403(b) plan providers
The following Q&As came from a discussion between the IRS and providers of 403(b) pre-approved plan documents about the current Cycle 2 403(b) program.
General Information
Gifts from foreign person
If you are a U.S. person who received foreign gifts of money or other property, you may need to report these gifts on Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts. Form 3520 is an information return, not a tax return, because foreign gifts are not subject to income tax. However, there are significant penalties for failure to file Form 3520 when it is required.
General Information
Businesses
Foreign trust reporting requirements and tax consequences
U.S. persons and their tax return preparers should be aware that U.S. persons who create a foreign trust, or have transactions with a foreign trust, can have both U.S. income tax consequences, as well as information reporting requirements. Failure to satisfy the information reporting requirements can result in significant penalties, as well as an extended time to assess any tax imposed with respect to the period to which the information relates.
General Information
Large Businesses
Fourth cycle preapproved 401(a) defined contribution plan providers Q&As
Q&A’s from Teams Meeting with 4th Cycle Preapproved 401(a) Defined Contribution Plan Providers
General Information
Tax Professionals
401(k) plan fix-it guide - You haven't updated your plan document within the past few years to reflect recent law changes
401(k) Plan Fix-It Guide - You haven't updated your plan document within the past few years to reflect recent law changes.
General Information
Administrators
SEP fix it guide SEP plan overview
SEP Plan Fix-It Guide - SEP Plan Overview
General Information
Administrators
VCP Submission Kit - Failure to make timely required contributions to a money purchase or target benefit plan
This kit is for plan sponsors who failed to make timely required contributions to a defined contribution money purchase pension plan or target benefit pension plan.
General Information
Administrators