Non-key employees who want health insurance would have to elect it through the cafeteria plan.
If a company's sole purpose in adding a subsidy is to allow key employees to elect more tax-free benefits under the cafeteria plan, the subsidy method is too costly.
2632(c)(5), a taxpayer may elect (1) not to have them apply to a transfer to a trust, (2) not to have them apply to any and all transfers to a trust or (3) to have them apply to any and all transfers to a trust.
2632(c)(5)(A)(i) allows a taxpayer to elect out of the automatic allocation rules for certain indirect skips or for any or all transfers made to a particular trust (election out).
Davis must decide whether to elect to take required minimum distributions from her IRA over a fixed number of years or to use the recalculation method.
Initially, most taxpayers elect the recalculation method.
In addition to the modifications for reporting split gifts (discussed previously), Part 2, Column C-2632(b) election, now provides a way to elect out of the deemed allocation of GST exemption.
If the transferor does not want to allocate GST exemption to the transfer, he or she can irrevocably elect out of the automatic Sec.
If the taxpayer does not formally elect to amortize a market discount on a tax-exempt bond, ordinary income must be recognized in the year of disposition, to the extent of amortization that would have been taken under the straight-line method.
For taxable bonds issued after July 18, 1984 and/or purchased after April 30, 1993 (and for tax-exempt bonds purchased after April 30, 1993), the taxpayer may elect whether to amortize the market discount on an annual basis (under Sec.
The procedures outlined in Notice 97-4 to elect
QSSS status also apply to a new company to be designated a QSSS.
1994), rev'g 98 TC 678 (1992), with facts similar to Clayton, the co-executors (one of whom was the spouse) had discretion to determine the amount to elect
, with the balance going into nonqualifying trusts.
Other nonspouse individual or trust as beneficiary: Elect
to recalculate for participant, but not for the beneficiary (recalculation for the nonspouse beneficiary is never available).
To address this problem, the Service requires a taxpayer electing a different method of accounting for real estate taxes to elect
one of two approaches to convert from one accounting method to another: (1) a cut-off approach or (2) a full-year change approach.
1033, which allows a taxpayer who has had property converted into cash involuntarily to elect
to limit the gain recognized on the involuntarily converted property if the taxpayer converts the cash into similar replacement property within two years.