Although the Internal Revenue Code trumps IRS Publications, practitioners tend to use the Publications as the initial resource when handling day-to-day tax issues.
Author Archives: Maria Hurd, CPA
What Goes in the Denominator? Complying with the Allocation Rules for Distributions from Qualified Plans With After-Tax Accounts
Compliance starts with understanding. Understanding the rules set forth in Notice 2014-54 assisted us with the application of the rules in a situation in which a participant was entitled to take a distribution from his after-tax account only, in a qualified plan that provides and separately accounts for […]
Lack of clarity causes frustration. The topic of how to properly allocate the pretax and after-tax amounts attributable to distributions from qualified plan accounts that include Roth 401(a) accounts or after-tax accounts has been a source of much debate in the retirement plan community.