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10 sie 2024 · Section 4974(e) (as added to the Code by section 302(b) of the SECURE 2.0 Act) provides that in the case of a taxpayer who, by the last day of the correction window: (1) receives a distribution from the qualified retirement plan or eligible deferred compensation plan of the amount by which the required minimum distribution exceeds the actual ...
For purposes of this section, the term “minimum required distribution” means the minimum amount required to be distributed during a taxable year under section 401(a)(9), 403(b)(10), 408(a)(6), 408(b)(3), or 457(d)(2), as the case may be, as determined under regulations prescribed by the Secretary.
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.
For purposes of this section, the term “minimum required distribution” means the minimum amount required to be distributed during a taxable year under section 401(a)(9), 403(b)(10), 408(a)(6), 408(b)(3), or 457(d)(2), as the case may be, as determined under regulations prescribed by the Secretary.
For purposes of section 4974, each of the following is a qualified retirement plan— (1) A plan described in section 401 (a) that includes a trust exempt from tax under section 501 (a); (2) An annuity plan described in section 403 (a);
Excise tax on certain accumulations in qualified retirement plans. Current as of January 01, 2024 | Updated by FindLaw Staff. (a) General rule.
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.
