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
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.
See Congressional committee explanation of section 702(f) of the Revenue Act of 1978
President Carter signed the Revenue Act of 1978
at Camp David with no fanfare.
As the defined benefit plan began its decline, a new retirement savings vehicle in the form of a defined contribution plan took shape with the passage of the Revenue Act of 1978
The defined contribution revolution started with the passage of the Revenue Act of 1978
, which added Section 401(k) to the Internal Revenue Code.
In his message to Congress in support of the Revenue Act of 1978
, President Carter proposed tax reforms aimed at "sustaining our economic recovery" (Carter 1978, 23- E).