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prev | next. (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, there is hereby imposed a tax equal to 25 percent of the amount by ...
L. 99-514, 1121(a)(1), amended section generally, substituting provisions imposing an excise tax on certain accumulations in qualified retirement plans for provisions imposing an excise tax on certain accumulations in individual retirement accounts and annuities.
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.
Title 26 - Internal Revenue Code. Subtitle D - Miscellaneous Excise Taxes (§§ 4001 - 5000C) Chapter 43 - QUALIFIED PENSION, ETC., PLANS (§§ 4971 - 4980I) Section 4974 - Excise tax on certain accumulations in qualified retirement plans. View Metadata.
26 U.S.C. 4974 - Excise tax on certain accumulations in qualified retirement plans
26 U.S.C. § 4974 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 4974. Excise tax on certain accumulations in qualified retirement plans. Current as of January 01, 2024 | Updated by FindLaw Staff. (a) General rule.
