February 20, 2009
System used to electronically deposit amounts withheld for taxes with the IRS.
TD 8723, Treas. Reg. §31.6302-1, IRS Publication 15-A,
Payors are required to use the EFTPS , beginning the year following the year that their withholding exceeds $200,000.
Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches
Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit
Who is an active participant? Active participant status affects an individual’s eligibility to take a deduction for a contribution to a traditional IRA on his/her
Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the
