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.
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.
Thus, the regulations do not require a current-year transfer to the trust for which the termination statement is being filed, nor do they require a gift tax return to otherwise be filed in the year a taxpayer elects
to terminate a previous election out.
Thus, split gifts made by the transferor's spouse are now listed separately in Part 1, 2 or 3 of Schedule A, Facilitating the ability to elect
out of the deemed-allocation rules for split gifts that are direct skips or lifetime redirect-skip transfers.
Page 5 of IRS Publication 501, Exemptions, Standard Deduction, and Filing Information, discusses spouses who elect
to file separately and how one spouse may be able to file as head of household if the spouses live apart and meet certain tests.
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 QSSS election (or revocation) would not have to be made within two and one-half months of the beginning of the year to be retroactive; the parent could choose a prospective date of no more than a year later to elect
or revoke the election.
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.
Spouse as beneficiary: Elect
to recalculate for the participant, but not for the spouse.
However, if a taxpayer elects
the payment method for 1992, since the April payment is made in 1992, the taxpayer would be allowed to deduct that payment again in 1992 - a "double-dip.
6013 allows a husband and wife to elect
to file a joint return.