The plan was created by the Revenue Act of 1978
, four years after the Employee Retirement Income Security Act (ERISA) became law.
Section 530 of the Revenue Act of 1978
limits the regulation-making power of the IRS regarding worker classification.
This is just short of 30 years since the 401(k) retirement saving plan was launched as part of the Revenue Act of 1978
, and about a decade since the 2008 crash of the Dow and world financial markets.
Congress included the provision creating IRC Section 125 in the Revenue Act of 1978
3509(a) back taxes can be found in Section 530 of the Revenue Act of 1978
In 1978, President Carter signed the Revenue Act of 1978
("RA of 1978").
Loewenstein concludes that it would be better if insurance companies offered, "truly simplified insurance products that consumers are capable of understanding." I remember hearing the same nonsense during the early 1980s when the Revenue Act of 1978
hastened the onset of 401(k) plans.
Another-approach, again only applicable to the IRS, is to seek safe harbor relief under Section 530 of the Revenue Act of 1978
, which provides relief for taxpayers who reasonably, but erroneously, classified workers as independent contractors instead of employees.
If a shareholder is an officer who is considered an employee, Section 530 of the Revenue Act of 1978
Prior to 1980, most of these plans were self-insured, but the Revenue Act of 1978
established non-discrimination requirements for self-insured medical reimbursement under Section 105(h) of the Internal Revenue Code.
An employer that complies with the conditions of Section 530 of the Revenue Act of 1978
will not be liable for employment taxes, even if the worker would be considered an employee under common law.
2035 made by the Revenue Act of 1978
, seems broad enough to include gifts of both policies and premium payments.