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I.R.C. § 4974(e)(2) Correction Window — For purposes of this subsection, the term ‘correction window’ means the period of time beginning on the date on which the tax under subsection (a) is imposed with respect to a shortfall of distributions from a plan described in subsection (a), and ending on the earliest of—
What Is A Qualified Retirement Plan As Defined by IRC Sec. 4974(c)? You may be able to take a credit (Retirement Savings Contribution Credit) of up to $1,000 (up to $2,000 if filing jointly) if you make eligible contributions to a qualified IRA, 401(k) and certain other retirement plans.
See Code Section 4974—excise tax on certain accumulations in qualified retirement plans. Find IRS publication info and the full-text Sec. 4974 on Tax Notes.
Excise tax on certain accumulations in qualified retirement plans. Section Text. (a) General rule. If the amount distributed during the taxable year of the payee under any qualified retirement plan or any eligible deferred compensation plan (as defined in section 457 (b)) is less than the minimum required distribution for such taxable year ...
Excise tax on certain accumulations in qualified retirement plans. Current as of January 01, 2024 | Updated by FindLaw Staff. (a) General rule.
Section 4974(c) provides, in part, that the. term “qualified retirement plan” means (1) a plan described in § 401 (including a trust. exempt from tax under § 501(a)), (2) an annuity plan described in § 403(a), (3) a tax-. sheltered annuity arrangement described in § 403(b), (4) an individual retirement.
