2011 Tax Legislation. My Alabama Taxes. Alabama Department of Revenue. AGA Presentation Individual Income Tax Fall, 2011

Size: px
Start display at page:

Download "2011 Tax Legislation. My Alabama Taxes. Alabama Department of Revenue. AGA Presentation Individual Income Tax Fall, 2011"

Transcription

1 Alabama Department of Revenue AGA Presentation Individual Income Tax Fall, 2011 James Lucy Director Individual and Corporate Tax Division My Alabama Taxes As a registered user you can: View & print copies of returns Make payments Recent filing & payment histories Request record changes (such as address) View letters from Department Send & receive messages to/from Department 2011 Tax Legislation 1

2 Full Employment Act of Allows deduction for employers that create new jobs for unemployed persons Deduction is percentage of gross wages and varies based on the hourly wage rate 50 percent of gross wages paid to each new hire if the wage rate is $14 per hour or higher Full Employment Act of percent of gross wages paid to each new hire if the wage rate is between $12 and $14 per hour 35 percent of gross wages paid to each new hire if the wage rate is between $10 and $12 per hour No deduction is allowed if the wage rate is less than $10 per hour Effective for tax years 2011 and 2012 Small Business Health Care Deduction Act Increases deduction to 200% of insurance premiums Less than 25 employees (for employers) after December 31,

3 Small Business Health Care Deduction Act Increases deduction to 200% of insurance premiums Annual wages of less than $50,000 (for employees) AGI less than $75,000 ($150,000 AGI) after December 31, Full Employment Act of Small businesses-50 or fewer employees $1,000 credit for each new job created Corporate Income tax Financial Institution Excise Tax Wages exceeding $10 per hour Full Employment Act of Available in tax year after employee has completed 12 months of consecutive employment after January 1,

4 Homeowners Insurance Retrofitting Provides income tax deduction to retrofit or upgrade home to make the residence more resistant to loss due to hurricane, tornado, etc. Effective June 9, Homeowners Insurance Retrofitting Lesser of: 50% of the cost of retrofitting or $3000 Available to taxpayers whether or not they itemize deductions. Effective June 9, Adjustment line has been added to Form 40. Income Tax Refund Check-Off Contribution to the Alabama Firefighters Annuity and Benefit Fund. beginning after December 31, New charity deduction- Schedule DC 4

5 Income Tax Refund Check-Off Contribution to the Alabama State Historic Preservation Fund. beginning after December 31, Federal Changes Affecting Alabama Roth IRA s Alabama income tax law is tied to the same treatment of the IRS Code that allows a 2010 rollover from a traditional IRA to a Roth IRA. Gain will be equally spread out and reported over tax years 2011 and

6 Depreciation Changes Alabama will follow the increased deduction allowed under the recently-enacted Tax Relief, Unemployment Insurance Reauthorization and Jobs Creation Act of Amends Section 168(k) of the IRC. Qualifying assets acquired after September 8, 2010 through December 31, 2011 will have a 100% bonus depreciation. Depreciation Changes Alabama is also following the increased deductions allowed by the Small Business Jobs Act of 2010, which amends Section 179 and 168 of the Internal Revenue Code. DISASTER RELIEF PAYMENTS Alabama will follow the IRS treatment of the qualified disaster relief payments under IRC 139. Not taxable as long as not in lieu of income. Except for unemployment compensation-alabama does not tax these payments. 6

7 Regulation Changes Gross Income Regulation , , Amends gross income regulation to reflect current law Requires resident individuals to report their entire distributive share of income as AL income regardless of source Credit allowed for taxes paid to other states Effective September 7, Electronically Filed Returns Individual Income Tax Returns 40 NR returns can be filed electronically for

8 Forms Changes The Department will not mail any income/business privilege tax forms this year. Can download and print all tax forms from our website. Will send to libraries and taxpayer service centers. MAILED FORMS Form 40-Individual Income Tax Schedule CR New calculation for credit for taxes paid to another state Credit is the lesser of: Tax due the other state using Alabama rates The tax due shown on the other state s return The tax due on the Alabama return The Alabama tax multiplied by the percentage of the non- Alabama AGI divided by the Alabama AGI 8

9 Questions?? Ann F. Winborne, CPA

2011 Tax Legislation. Small Business Health Care Deduction. Alabama Department of Revenue. AGA Presentation Business Tax Fall, 2011

2011 Tax Legislation. Small Business Health Care Deduction. Alabama Department of Revenue. AGA Presentation Business Tax Fall, 2011 Alabama Department of Revenue AGA Presentation Business Tax Fall, 2011 Brenda Russ Manager, Business Tax Individual and Corporate Tax Division 2011 Tax Legislation Small Business Health Care Deduction

More information

TAX NOTICE (For Payments Not From a Designated Roth Account)

TAX NOTICE (For Payments Not From a Designated Roth Account) TAX NOTICE (For Payments Not From a Designated Roth Account) YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from your employer s qualified retirement

More information

Miami Firefighters Relief & Pension Fund Rollover Notice

Miami Firefighters Relief & Pension Fund Rollover Notice Miami Firefighters Relief & Pension Fund Rollover Notice Your Rollover Options You are receiving this notice because all or a potion of a payment you are receiving from the Miami Firefighters Relief &

More information

Name Address City, State and Zip Code Social Security Number Telephone ( ) Date of request

Name Address City, State and Zip Code Social Security Number Telephone ( ) Date of request *HYBRID-MANDATORY* GENERAL RETIREMENT SYSTEM OF THE CITY OF DETROIT REQUEST FOR WITHDRAWAL OF MANDATORY EMPLOYEE CONTRIBUTIONS FROM THE COMPONENT I PLAN AND DISTRIBUTION DESIGNATION Name Address City,

More information

INFORMATION KIT GABELLI FUNDS

INFORMATION KIT GABELLI FUNDS STATE STREET BANK AND TRUST COMPANY UNIVERSAL INDIVIDUAL RETIREMENT ACCOUNT INFORMATION KIT -------------- GABELLI FUNDS State Street Bank and Trust Company Universal IRA Information Kit Supplement to

More information

2010 Update. The Rebirth of. Roth. A CPA s Ultimate Guide for Client Care. By: Robert S. Keebler, CPA, MST, AEP (Distinguished)

2010 Update. The Rebirth of. Roth. A CPA s Ultimate Guide for Client Care. By: Robert S. Keebler, CPA, MST, AEP (Distinguished) 2010 Update The Rebirth of Roth A CPA s Ultimate Guide for Client Care By: Robert S. Keebler, CPA, MST, AEP (Distinguished) The Rebirth of Roth The Small Business Jobs Act of 2010 (SBJA) (P.L. 111-240)

More information

SPJST ROTH INDIVIDUAL RETIREMENT ANNUITY DISCLOSURE STATEMENT

SPJST ROTH INDIVIDUAL RETIREMENT ANNUITY DISCLOSURE STATEMENT SPJST ROTH INDIVIDUAL RETIREMENT ANNUITY DISCLOSURE STATEMENT This disclosure statement explains the rules governing a Roth IRA. The term IRA will be used in this disclosure statement to refer to a Roth

More information

Required Rollover and Tax Notice for Lump Sum Distributions

Required Rollover and Tax Notice for Lump Sum Distributions Required Rollover and Tax Notice for Lump Sum Distributions Your Rollover Options You are receiving this notice because all or a portion of a payment you are receiving from the Pension Plan and Trust of

More information

ANALYSIS OF THE KEY PENSION AND BENEFIT PROVISIONS IN THE WORKING FAMILIES TAX RELIEF ACT OF 2004

ANALYSIS OF THE KEY PENSION AND BENEFIT PROVISIONS IN THE WORKING FAMILIES TAX RELIEF ACT OF 2004 Page 1 of 6 ANALYSIS OF THE KEY PENSION AND BENEFIT PROVISIONS IN THE WORKING FAMILIES TAX RELIEF ACT OF 2004 On September 23, 2004, Congress passed the Working Families Tax Relief Act of 2004 ( 2004 Act

More information

Traditional and Roth Individual Retirement Accounts (IRAs): A Primer

Traditional and Roth Individual Retirement Accounts (IRAs): A Primer Traditional and Roth Individual Retirement Accounts (IRAs): A Primer John J. Topoleski Analyst in Income Security February 12, 2015 Congressional Research Service 7-5700 www.crs.gov RL34397 Summary In

More information

FTB Publication Pension and Annuity Guidelines

FTB Publication Pension and Annuity Guidelines FTB Publication 1005 2018 Pension and Annuity Guidelines Table of Contents What s New.... 3 General Information... 3 Introduction.... 3 Important Reminders... 3 Common Terms Used in this Publication...

More information

DISCLOSURE STATEMENT

DISCLOSURE STATEMENT DISCLOSURE STATEMENT For an Automatic Rollover Safe Harbor Roth Individual Retirement Account ( IRA ) Established Under Section 657 (c) of the Economic Growth and Tax Relief Reconciliation Act of 2001.

More information

EIC VALUE FUND INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA

EIC VALUE FUND INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA EIC VALUE FUND INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional and Roth Individual Retirement Account (IRA)

More information

Guide To Your USAA Life Insurance Company Forms 1099-INT and 1099-R For Tax Year 2017

Guide To Your USAA Life Insurance Company Forms 1099-INT and 1099-R For Tax Year 2017 Guide To Your USAA Life Insurance Company Forms 1099-INT and 1099-R For Tax Year 20 USAA is committed to providing accuracy in reporting tax information related to your life insurance and annuity contracts

More information

YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS

YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS JANUARY 2011 This memo provides information that is useful in the annual preparation of employment related forms

More information

Special Tax Notice For Payments From a Designated Roth Account

Special Tax Notice For Payments From a Designated Roth Account Special Tax Notice For Payments From a Designated Roth Account YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from your retirement plan is eligible

More information

By Brian McCuller, JD, CPA, and Andrew Hill, JD

By Brian McCuller, JD, CPA, and Andrew Hill, JD Impact of the PATH ACT and Other Business Legislation By Brian McCuller, JD, CPA, and Andrew Hill, JD The dust has settled on 2015 s state and federal tax legislation. There is much welcome news for Tennessee

More information

AMG FUNDS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA

AMG FUNDS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA AMG FUNDS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional and Roth Individual Retirement Account (IRA) Disclosure

More information

Casualty loss deductions, election to claim for previous year. Casualty loss deductions, limitations eased.

Casualty loss deductions, election to claim for previous year. Casualty loss deductions, limitations eased. Dear Client: If you suffered a loss as a result of Hurricane Harvey, you may be able to recoup a portion of that loss through several different tax benefits that may be available to you. These include

More information

Individual Retirement Account (IRA)

Individual Retirement Account (IRA) Longleaf Partners Funds Individual Retirement Account (IRA) Traditional IRA SEP IRA Roth IRA Contents BNY Mellon Investment Servicing Trust Company 2 Traditional and Roth IRA Combined Disclosure Statement

More information

Manning & Napier Fund, Inc. Individual Retirement Account (IRA) TRADITIONAL IRA ROLLOVER IRA ROTH IRA SEP IRA BENEFICIARY IRA

Manning & Napier Fund, Inc. Individual Retirement Account (IRA) TRADITIONAL IRA ROLLOVER IRA ROTH IRA SEP IRA BENEFICIARY IRA Manning & Napier Fund, Inc. Individual Retirement Account (IRA) TRADITIONAL IRA ROLLOVER IRA ROTH IRA SEP IRA BENEFICIARY IRA TABLE OF CONTENTS SUPPLEMENT TO THE COMBINED IRA DISCLOSURE STATEMENT 3 COMBINED

More information

PRIVACY POLICIES, DISCLOSURES, INSTRUCTIONS & AGREEMENTS FOR: Individual Retirement Account (IRA) Traditional IRA SEP IRA.

PRIVACY POLICIES, DISCLOSURES, INSTRUCTIONS & AGREEMENTS FOR: Individual Retirement Account (IRA) Traditional IRA SEP IRA. PRIVACY POLICIES, DISCLOSURES, INSTRUCTIONS & AGREEMENTS FOR: Individual Retirement Account (IRA) Traditional IRA SEP IRA Roth IRA BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional

More information

BNY MELLON INVESTMENT SERVICING TRUST COMPANY

BNY MELLON INVESTMENT SERVICING TRUST COMPANY BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional and Roth Individual Retirement Account (IRA) Disclosure Statement for Tax Year 2019 DEADLINE EXTENSION FOR 2018 CONTRIBUTIONS

More information

TAX NOTICE (For Payments Not From a Designated Roth Account)

TAX NOTICE (For Payments Not From a Designated Roth Account) 402(f) Notice Non-Roth YOUR ROLLOVER OPTIONS TAX NOTICE (For Payments Not From a Designated Roth Account) You are receiving this notice because all or a portion of a payment you are receiving from your

More information

INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA

INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional and Roth Individual Retirement Account (IRA) Disclosure

More information

HOLLYWOOD POLICE OFFICERS RETIREMENT SYSTEM SPECIAL TAX NOTICE

HOLLYWOOD POLICE OFFICERS RETIREMENT SYSTEM SPECIAL TAX NOTICE HOLLYWOOD POLICE OFFICERS RETIREMENT SYSTEM SPECIAL TAX NOTICE YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from the Hollywood Police Officers

More information

YOUR ROLLOVER OPTIONS Defined Benefit Plans

YOUR ROLLOVER OPTIONS Defined Benefit Plans YOUR ROLLOVER OPTIONS Defined Benefit Plans You are receiving this notice because all or a portion of a payment you are receiving from the ABC Company Pension Plan (the Plan ) is eligible to be rolled

More information

January 12, Name Name 2 Address 1 Address 2 Address 3 City, State, Zip. Contract No.: Dear IRA Owner:

January 12, Name Name 2 Address 1 Address 2 Address 3 City, State, Zip. Contract No.: Dear IRA Owner: January 12, 2015 Symetra Life Insurance Company Retirement Division 777 108th Avenue NE, Suite 1200 Bellevue, WA 98004-5135 Mailing Address: PO Box 305156 Nashville, TN 37230-5156 Phone 1-800-796-3872

More information

TRADITIONAL IRA DISCLOSURE STATEMENT

TRADITIONAL IRA DISCLOSURE STATEMENT TRADITIONAL IRA DISCLOSURE STATEMENT RIGHT TO REVOKE YOUR IRA ACCOUNT The W-2 form will have a check in the "retirement plan" box if you are covered by a retirement plan. You can also obtain IRS Notice

More information

I HAVE RECEIVED AND READ THE ENCLOSED 9-PAGE SPECIAL TAX NOTICE:

I HAVE RECEIVED AND READ THE ENCLOSED 9-PAGE SPECIAL TAX NOTICE: I HAVE RECEIVED AND READ THE ENCLOSED 9-PAGE SPECIAL TAX NOTICE: Date: Member s Signature Print Name Note: Please return ONLY this page to: Louisiana Sheriffs Pension & Relief Fund 1225 Nicholson Drive

More information

Roth Individual Retirement Account Disclosure Statement and Custodial Agreement

Roth Individual Retirement Account Disclosure Statement and Custodial Agreement Wells Fargo Clearing Services, LLC Roth Individual Retirement Account Disclosure Statement and Custodial Agreement Effective November 11, 2016 Table of Contents Section I: Disclosure Statement A. Introduction...3

More information

Special Tax Notice Regarding Plan Payments

Special Tax Notice Regarding Plan Payments Special Tax Notice Regarding Plan Payments Your Rollover Options for Payments Not From A Designated Roth Account You are receiving this notice because all or a portion of a payment you receive from your

More information

YEAR-END INCOME TAX PLANNING FOR INDIVIDUALS Short Format

YEAR-END INCOME TAX PLANNING FOR INDIVIDUALS Short Format 2017 YEAR-END INCOME TAX PLANNING FOR INDIVIDUALS Short Format UPDATED November 2, 2017 www.cordascocpa.com 2017 YEAR-END INCOME TAX PLANNING FOR INDIVIDUALS INTRODUCTION With year-end approaching, this

More information

QP/401(k) DISTRIBUTION NOTICE

QP/401(k) DISTRIBUTION NOTICE QP/401(k) DISTRIBUTION NOTICE Important Information About Your Qualified Retirement Plan Distribution INTRODUCTION As a participant in your employer s qualified retirement plan, you have accumulated a

More information

Roth I R A s. General Informa tion and Instr uctions:

Roth I R A s. General Informa tion and Instr uctions: General Informa tion and Instr uctions: Roth I R A s The Roth IRA was created in 1998. Roth IRAs provide an alternative method of saving for retirement, allowing individuals to contribute aftertax monies

More information

GENERAL INCOME TAX INFORMATION

GENERAL INCOME TAX INFORMATION GENERAL INCOME TAX INFORMATION TABLE OF CONTENTS Taxes on Loans from the Annuity Savings Fund 1 (Tier 1 and 2 Members Only) Taxes on the Withdrawal of the Annuity Savings Fund at Retirement 2 (Tier 1 and

More information

August We look forward to helping you plan for and live well in retirement.

August We look forward to helping you plan for and live well in retirement. August 2017 e re sending you the enclosed Special Tax Notice because you re currently receiving withdrawals from your tax-deferred TIAA retirement accounts. You don t need to take any action. e re required

More information

Special Tax Notice PAGE 1 OF 5

Special Tax Notice PAGE 1 OF 5 Special Tax Notice PAGE 1 OF 5 YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from the Texas County & District Retirement System (TCDRS) is

More information

403(b) Plan Transaction Request Form

403(b) Plan Transaction Request Form 403(b) Plan Transaction Request Form 900 S Capital of TX Hwy, Ste. 350 Austin, TX 78746 403b@tcgservices.com P: 800.943.9179 F: 888.989.9247 Please submit completed form via fax, email or mail Sections

More information

DISTRIBUTION CHECK LIST

DISTRIBUTION CHECK LIST DISTRIBUTION CHECK LIST To ensure timely processing of your distribution request, please go through the following checklist prior to sending the forms to CRS: o Sections 1 through 4 (Page 1) of the Application

More information

FRESNO COUNTY EMPLOYEES RETIREMENT ASSOCIATION Tax Notice for Eligible Rollover Distributions (Refunds of Retirement Contributions)

FRESNO COUNTY EMPLOYEES RETIREMENT ASSOCIATION Tax Notice for Eligible Rollover Distributions (Refunds of Retirement Contributions) FRESNO COUNTY EMPLOYEES RETIREMENT ASSOCIATION Tax Notice for Eligible Rollover Distributions (Refunds of Retirement Contributions) Important: this notice is a model published by the Internal Revenue Service.

More information

Supplement to American Century Brokerage SEP and SIMPLE IRA Custodial Agreements

Supplement to American Century Brokerage SEP and SIMPLE IRA Custodial Agreements Supplement to American Century Brokerage SEP and SIMPLE IRA Custodial Agreements The updates below apply to the American Century Brokerage custodial agreements for the following retirement accounts: SEP

More information

Table II: Other Key Provisions in HR 1776 of Interest to Governmental Plans

Table II: Other Key Provisions in HR 1776 of Interest to Governmental Plans Table II: Other Key Provisions in HR 1776 of Interest to Governmental Plans For a copy of HR 1776, visit http://www.nctr.org/content/pdf/portman_full_bill03.pdf See Table I for Principal Provisions in

More information

Dear Client: Basic Numbers You Need to Know

Dear Client: Basic Numbers You Need to Know Dear Client: As 2013 draws to a close, there is still time to reduce your 2013 tax bill and plan ahead for 2014. This letter highlights several potential tax-saving opportunities for you to consider. I

More information

Voya Funds Individual Retirement Account (IRA)

Voya Funds Individual Retirement Account (IRA) Voya Funds Individual Retirement Account (IRA) Traditional IRA SEP IRA Roth IRA For financial professional use only. Not for inspection by, distribution or quotation to, the general public. INVESTMENT

More information

YOUR ROLLOVER OPTIONS

YOUR ROLLOVER OPTIONS YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you receive from the Plan is eligible to be rolled over to an IRA or an employer plan. This notice is intended

More information

Recent Changes to IRAs

Recent Changes to IRAs Recent Changes to IRAs Federal legislation and new IRS regulations have created several changes to IRAs in the past year. Prohibition on recharacterization of IRA conversions: Effective for taxable years

More information

GENERAL ASSEMBLY OF NORTH CAROLINA Session Legislative Fiscal Note

GENERAL ASSEMBLY OF NORTH CAROLINA Session Legislative Fiscal Note GENERAL ASSEMBLY OF NORTH CAROLINA Session 2013 Legislative Fiscal Note BILL NUMBER: House Bill 82 (First Edition) SHORT TITLE: SPONSOR(S): IRC Update. Representative Howard State Impact General Fund Revenues:

More information

Attached, please find the Distribution form required for distribution requests from your Roth IRA account.

Attached, please find the Distribution form required for distribution requests from your Roth IRA account. Dear Ally Invest Client: Attached, please find the Distribution form required for distribution requests from your Roth IRA account. Please complete and return to Ally Invest Securities only the first two

More information

CHAPTER 16 INDIVIDUAL RETIREMENT ACCOUNTS

CHAPTER 16 INDIVIDUAL RETIREMENT ACCOUNTS CHAPTER 16 INDIVIDUAL RETIREMENT ACCOUNTS Introduction Through the enactment of the Employee Retirement Income Security Act of 1974 (ERISA), Congress established individual retirement accounts (IRAs) to

More information

GuideStone Funds Individual Retirement Account (IRA) Traditional IRA Roth IRA

GuideStone Funds Individual Retirement Account (IRA) Traditional IRA Roth IRA GuideStone Funds Individual Retirement Account (IRA) Traditional IRA Roth IRA References to the Custodian mean BNY Mellon Investment Servicing Trust Company. BNY Mellon Investment Servicing Trust Company

More information

Roth Individual Retirement Account Disclosure Statement and Custodial Agreement Effective November 11, 2016

Roth Individual Retirement Account Disclosure Statement and Custodial Agreement Effective November 11, 2016 Roth Individual Retirement Account Disclosure Statement and Custodial Agreement Effective November 11, 2016 544260 (Rev 17-06/17) Page 1 of 25 Table of Contents Section I: Disclosure Statement A. Introduction...

More information

SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS YOUR ROLLOVER OPTIONS

SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS YOUR ROLLOVER OPTIONS SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from your employer s retirement plan (the Plan ) is

More information

YOUR ROLLOVER OPTIONS

YOUR ROLLOVER OPTIONS For Payments Not From a Designated Roth Account YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from the [INSERT NAME OF PLAN] (the Plan ) is

More information

BNY MELLON INVESTMENT SERVICING TRUST COMPANY

BNY MELLON INVESTMENT SERVICING TRUST COMPANY BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional and Roth Individual Retirement Account (IRA) Disclosure Statement for Tax Year 2018 DEADLINE EXTENSION FOR 2017 CONTRIBUTIONS

More information

Highlights of the Tax Cuts and Jobs Act (S Corp, Partnership & Other Changes)

Highlights of the Tax Cuts and Jobs Act (S Corp, Partnership & Other Changes) Highlights of the Tax Cuts and Jobs Act (S Corp, Partnership & Other Changes) On 12/22/17, President Trump signed into law H.R. 1, the Tax Cuts and Jobs Act, a sweeping tax reform law that will entirely

More information

Individual Income Tax Planning

Individual Income Tax Planning 18401 Murdock Circle Suite B Port Charlotte, FL 33948 941-627-4774 linda.cross@raymondjames.com www.raymondjames.com/sommervillegroup 2012 Key Numbers June 2012 Individual Income Tax Planning Adoption

More information

SPECIAL TAX NOTICE YOUR ROLLOVER OPTIONS

SPECIAL TAX NOTICE YOUR ROLLOVER OPTIONS SPECIAL TAX NOTICE YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from the Pfizer Consolidated Pension Plan (the Plan ) is eligible to be rolled

More information

Taxation of Unemployment Benefits

Taxation of Unemployment Benefits Cornell University ILR School DigitalCommons@ILR Federal Publications Key Workplace Documents 9-13-2012 Taxation of Unemployment Benefits Julie M. Whittaker Congressional Research Service Follow this and

More information

Custodial Account Agreement

Custodial Account Agreement Custodial Account Agreement For Individual Retirement Accounts & Coverdell Education Savings Accounts Mail to: The Cook & Bynum Fund c/o U.S. Bank Global Fund Services PO Box 701 Milwaukee, WI 53201-0701

More information

ASCPA TAX COMMITTEE MEETING January 12, 2011

ASCPA TAX COMMITTEE MEETING January 12, 2011 ASCPA TAX COMMITTEE MEETING January 12, 2011 Q: Is the ADOR going to delay the April 15 th filing date until April 18 th, like the IRS has done due to the observation of Emancipation Day on April 15 th?

More information

SPECIAL TAX NOTICE REGARDING RETIREMENT PLAN PAYMENTS

SPECIAL TAX NOTICE REGARDING RETIREMENT PLAN PAYMENTS CUNA Mutual Retirement Solutions Phone: 800.999.8786 Fax: 608.236.8017 BenefitsForYou.com SPECIAL TAX NOTICE REGARDING RETIREMENT PLAN PAYMENTS Non-Roth Accounts YOUR ROLLOVER OPTIONS You are receiving

More information

QRP Distribution Notice

QRP Distribution Notice QRP Distribution Notice Important Information About Your Qualified Retirement Plan Distribution INTRODUCTION As a participant in your employer s qualified retirement plan, you have accumulated a vested

More information

DISTRIBUTION PACKET Boy Scout Blvd., Suite 450 Tampa, Florida

DISTRIBUTION PACKET Boy Scout Blvd., Suite 450 Tampa, Florida 403(b )/457 HARDSHIP DISTRIBUTION PACKET 4010 Boy Scout Blvd., Suite 450 Tampa, Florida 33607 www.aspireonline.com 403(b)/457 Hardship/Unforeseeable Emergency Distribution Packet Complete this form if

More information

HIGHLIGHTS OF SELECTED TAX PROVISIONS INCLUDED WITH THE EMERGENCY ECONOMIC STABILIZATION ACT OF 2008 AND SELECTED IRS COST OF LIVING ADJUSTMENTS

HIGHLIGHTS OF SELECTED TAX PROVISIONS INCLUDED WITH THE EMERGENCY ECONOMIC STABILIZATION ACT OF 2008 AND SELECTED IRS COST OF LIVING ADJUSTMENTS HIGHLIGHTS OF SELECTED TAX PROVISIONS INCLUDED WITH THE EMERGENCY ECONOMIC STABILIZATION ACT OF 2008 AND SELECTED IRS COST OF LIVING ADJUSTMENTS JAMES P. TREBBY ASSOCIATE PROFESSOR OF ACCOUNTING MARQUETTE

More information

Safe Harbor Explanations Eligible Rollover Distributions. Notice I. PURPOSE

Safe Harbor Explanations Eligible Rollover Distributions. Notice I. PURPOSE Safe Harbor Explanations Eligible Rollover Distributions Notice 2018-74 I. PURPOSE This notice modifies the two safe harbor explanations in Notice 2014-74, 2014-50 I.R.B. 937, that may be used to satisfy

More information

SPECIAL FEDERAL TAX NOTICE (for eligible rollover distributions from MOSERS) TABLE OF CONTENTS

SPECIAL FEDERAL TAX NOTICE (for eligible rollover distributions from MOSERS) TABLE OF CONTENTS SPECIAL FEDERAL TAX NOTICE (for eligible rollover distributions from MOSERS) You are receiving this notice because all or a portion of a payment you are receiving from the Missouri State Employees Retirement

More information

Addendum to the Traditional IRA Custodial Agreement and Disclosures

Addendum to the Traditional IRA Custodial Agreement and Disclosures Effective January 1, 2018 Addendum to the Traditional IRA Custodial Agreement and Disclosures This Addendum changes the Traditional IRA Custodial Agreement and Disclosures ( Agreement ) document and uses

More information

Custodial Account Agreement

Custodial Account Agreement Custodial Account Agreement For Individual Retirement Accounts & Coverdell Education Savings Accounts Mail to: Chase Funds c/o U.S. Bancorp Fund Services, LLC PO Box 701 Milwaukee, WI 53201-0701 Overnight

More information

INDEPENDENCE PLUS CONTRACT SERIES STATEMENT OF ADDITIONAL INFORMATION. FORM N-4 PART B May 1, 2018 TABLE OF CONTENTS

INDEPENDENCE PLUS CONTRACT SERIES STATEMENT OF ADDITIONAL INFORMATION. FORM N-4 PART B May 1, 2018 TABLE OF CONTENTS THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A UNITS OF INTEREST UNDER GROUP AND INDIVIDUAL FIXED AND VARIABLE DEFERRED ANNUITY CONTRACTS INDEPENDENCE PLUS CONTRACT SERIES STATEMENT OF

More information

Custodial Account Agreement

Custodial Account Agreement Custodial Account Agreement For Individual Retirement Accounts & Coverdell Education Savings Accounts Mail to: Muzinich Funds c/o U.S. Bancorp Fund Services, LLC PO Box 701 Milwaukee, WI 53201-0701 Overnight

More information

YOUR ROLLOVER OPTIONS GENERAL INFORMATION ABOUT ROLLOVERS

YOUR ROLLOVER OPTIONS GENERAL INFORMATION ABOUT ROLLOVERS YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from the North Park Transportation ESOP is eligible to be rolled over to an IRA or an employer

More information

STATEMENT OF ADDITIONAL INFORMATION. FORM N-4 PART B May 1, 2018

STATEMENT OF ADDITIONAL INFORMATION. FORM N-4 PART B May 1, 2018 THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A UNITS OF INTEREST UNDER GROUP UNIT PURCHASE AND GROUP FIXED AND VARIABLE DEFERRED ANNUITY CONTRACTS (GUP AND GTS-VA CONTRACTS) STATEMENT OF

More information

SPECIAL TAX NOTICE (For Payments Not From a Designated Roth Account) YOUR ROLLOVER OPTIONS

SPECIAL TAX NOTICE (For Payments Not From a Designated Roth Account) YOUR ROLLOVER OPTIONS SPECIAL TAX NOTICE (For Payments Not From a Designated Roth Account) YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from your retirement plan

More information

News. Bipartisan Budget Act of 2018

News. Bipartisan Budget Act of 2018 News Release Date: 2/12/18 Bipartisan Budget Act of 2018 Cross References H.R. 1892 On February 9, 2018, the President signed into law H.R. 1892, the Bipartisan Budget Act of 2018, which extends federal

More information

Death Claims These are given special handling by TCG. Please call us at call for assistance.

Death Claims These are given special handling by TCG. Please call us at call for assistance. Death Claims These are given special handling by TCG. Please call us at call 1-800-943-9179 for assistance. Participant Information First Name MI Last Employer Street Address City State Zip (If the address

More information

TOOLS AND TECHNIQUES OF INCOME TAX PLANNING 3 RD EDITION

TOOLS AND TECHNIQUES OF INCOME TAX PLANNING 3 RD EDITION TOOLS AND TECHNIQUES OF INCOME TAX PLANNING 3 RD EDITION 2012 Supplement Chapter 2 p. 11 In 2012 the income threshold for married person filing jointly is $19,500 (if one spouse is blind or elderly 20,650;

More information

AFPlanServ Plan Distribution/Rollover Authorization Form

AFPlanServ Plan Distribution/Rollover Authorization Form AFPlanServ Plan Distribution/Rollover Authorization Form Participant Instructions This form can be completed to request a distribution or a rollover from your current or former employer s 403(b) or 457(b)

More information

AMERUS LIFE INSURANCE COMPANY

AMERUS LIFE INSURANCE COMPANY AMERUS LIFE INSURANCE COMPANY IRA DISCLOSURE STATEMENT INTRODUCTION This Individual Retirement Annuity ("IRA") is an annuity contract issued by AmerUs Life Insurance Company ("AMERUS") to fund an individual's

More information

Your Rollover Options For Payments Not From a Designated Roth Account

Your Rollover Options For Payments Not From a Designated Roth Account This document combines two Rollover Options notices. The first notice describes the rollover and other tax rules that apply to payments from the Plan that are not from a designated Roth account. The second

More information

YOUR ROLLOVER OPTIONS

YOUR ROLLOVER OPTIONS For Payments From a Designated Roth Account YOUR ROLLOVER OPTIONS You are receiving this notice in the event that all or a portion of a payment you are receiving from the Plan is eligible to be rolled

More information

For Payments From a Designated Roth Account

For Payments From a Designated Roth Account For Payments From a Designated Roth Account YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from the [INSERT NAME OF PLAN] (the Plan ) is eligible

More information

Checklist for Individuals Reducing the NIIT

Checklist for Individuals Reducing the NIIT Checklist for Individuals Reducing the NIIT 1. Reducing net investment income (NII) and MAGI General Observations a. Assuming that a taxpayer is subject to the net investment income tax (NIIT) in the first

More information

Table of Contents. Disclaimer Notice... 1 Roth IRAs... 2 Roth IRA Conversion - Factors to Consider...7

Table of Contents. Disclaimer Notice... 1 Roth IRAs... 2 Roth IRA Conversion - Factors to Consider...7 Table of Contents Disclaimer Notice... 1 Roth IRAs... 2 Roth IRA Conversion - Factors to Consider...7 ImportantNotice Thisreportisintendedtoserveasabasisforfurtherdiscussionwithyourotherprofessionaladvisors.

More information

STD N402F ][03/14/16)( (f) NOTICE OF SPECIAL TAX RULES ON DISTRIBUTIONS

STD N402F ][03/14/16)( (f) NOTICE OF SPECIAL TAX RULES ON DISTRIBUTIONS 402(f) NOTICE OF SPECIAL TAX RULES ON DISTRIBUTIONS For Payments Not From a Designated Roth Account YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving

More information

403(b) ROLLOVER OPTIONS

403(b) ROLLOVER OPTIONS You are receiving this notice because all or a portion of the non-systematic distribution you are to receive from your TCA by E*TRADE account (the Plan ) is eligible to be rolled over to an IRA or an employer

More information

Report for Congress. Retirement Savings Accounts: Early Withdrawals and Required Distributions. March 7, 2003

Report for Congress. Retirement Savings Accounts: Early Withdrawals and Required Distributions. March 7, 2003 Order Code RL31770 Report for Congress Received through the CRS Web Retirement Savings Accounts: Early Withdrawals and Required Distributions March 7, 2003 Patrick J. Purcell Specialist in Social Legislation

More information

Special Pay Plan Required Minimum Distribution (RMD) Form

Special Pay Plan Required Minimum Distribution (RMD) Form For assistance completing this form, please refer to the checklist on page 2. Your Information Employer: Special Pay Plan Required Minimum Distribution (RMD) Form Return this completed form to: Mail: MidAmerica

More information

Year (YYYY) Month-Year (MM-YYYY) Month-Year (MM-YYYY)

Year (YYYY) Month-Year (MM-YYYY) Month-Year (MM-YYYY) Michigan Department of Treasury (Rev. 06-17), Page 1 of 3 Application for Michigan Net Operating Loss Refund MI-1045 Issued under authority of Public Act 281 of 1967, as amended. Type or print in blue

More information

SPECIAL TAX NOTICE (For Payments From a Designated Roth Account) YOUR ROLLOVER OPTIONS

SPECIAL TAX NOTICE (For Payments From a Designated Roth Account) YOUR ROLLOVER OPTIONS SPECIAL TAX NOTICE (For Payments From a Designated Roth Account) YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from your retirement plan is

More information

Tax Law 2001 Pension and Benefits. proof

Tax Law 2001 Pension and Benefits. proof Tax Law 2001 Pension and Benefits Increased contribution limits. Make-up contributions for older individuals. Increased portability of benefits. New tax credits. Reduced regulatory burdens. These are just

More information

SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS ROLLOVER OPTIONS

SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS ROLLOVER OPTIONS Page 1 of 5 You are receiving this notice because all or a portion of the payment that you are eligible to receive from the Chicago Regional Council of Carpenters Supplemental Retirement Fund is permitted

More information

CONVERSION RETIREMENT BENEFIT APPLICATION Ohio Public Employees Retirement System 277 East Town Street, Columbus, Ohio

CONVERSION RETIREMENT BENEFIT APPLICATION Ohio Public Employees Retirement System 277 East Town Street, Columbus, Ohio CONVERSION RETIREMENT BENEFIT APPLICATION Ohio Public Employees Retirement System 277 East Town Street, Columbus, Ohio 43215-4642 STEP 1: Member Information 1-800-222-PERS (7377) www.opers.org Social Security

More information

SPECIAL TAX NOTICE REGARDING PLAN PAYMENT FROM NON-ROTH AND DESIGNATED ROTH ACCOUNTS

SPECIAL TAX NOTICE REGARDING PLAN PAYMENT FROM NON-ROTH AND DESIGNATED ROTH ACCOUNTS SPECIAL TAX NOTICE REGARDING PLAN PAYMENT FROM NON-ROTH AND DESIGNATED ROTH ACCOUNTS YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from an

More information

IRA Custodian Disclosure Statement and Plan Agreement

IRA Custodian Disclosure Statement and Plan Agreement IRA Custodian Disclosure Statement and Plan Agreement Retain these pages for your records. Custodian disclosure statement The following information is provided to you by the Custodian (as specified on

More information

The following pages contain the plan document, disclosures and agreements, including disclosures required by federal law, governing your SRA/IRA.

The following pages contain the plan document, disclosures and agreements, including disclosures required by federal law, governing your SRA/IRA. SIMPLE RETIREMENT ACCOUNT PROGRAM PLAN DOCUMENT, DISCLOSURES AND AGREEMENTS CONTENTS PROTOTYPE SIMPLE RETIREMENT ACCOUNT PLAN 3 IRS APPROVAL 6 DISCLOSURE 7 ABOUT YOUR SRA/IRA 7 Revoking Your SRA/IRA 7

More information

LANTANA FIREFIGHTERS PENSION FUND SPECIAL TAX NOTICE

LANTANA FIREFIGHTERS PENSION FUND SPECIAL TAX NOTICE LANTANA FIREFIGHTERS PENSION FUND SPECIAL TAX NOTICE YOUR ROLLOVER OPTIONS You are receiving this notice because all or a portion of a payment you are receiving from the LANTANA FIREFIGHTERS PENSION FUND

More information

Looking Back on 2018

Looking Back on 2018 Year-end Planning 2018 Looking Back on 2018 As 2018 draws to a close, there is still time to reduce your 2018 tax bill and plan ahead for 2019. This letter highlights several potential year-end planning

More information

Effective January 1, All About Union Bank Simple Individual Retirement Custodial Account Agreement

Effective January 1, All About Union Bank Simple Individual Retirement Custodial Account Agreement Effective January 1, 2014 All About Union Bank Simple Individual Retirement Custodial Account Agreement Table of Contents Form 5305-SA under section 408P of the Internal Revenue Code. INTRODUCTION...1

More information

2017 Year-End Tax Planning for Individuals

2017 Year-End Tax Planning for Individuals 2017 Year-End Tax Planning for Individuals As 2017 draws to a close, there is still time to reduce your 2017 tax bill and plan ahead for 2018. This letter highlights several potential tax-saving opportunities

More information