IRS acquiesces in Ninth Circuit's Boyd Gaming decision regarding employer-provided meals in the casino industry, withdraws training materials and terminates settlement initiative for the hospitality industry

Article Abstract:

This article concerns IRS Announcement 99-77, 1999-32 I.R.B. 243 where the IRS stated that it will follow the ruling of the U.S. 9th Circuit Court of Appeals in Boyd Gaming Corp. v. Commissioner. The court in that case held against the IRS and allowed casino employers to deduct and employees to exclude from income, the value of employer-provided meals under IRC fringe benefit sections 132(e) and 119. The IRS limited its acquiescence to similar businesses.

Public Finance Activities, Tax Deductions & Exemptions, Coin-operated amusement devices, Casinos, Casinos (except Casino Hotels), Taxation, Compensation and benefits, Hospitality industry, Tax deductions, Industrial feeding, Employee food services

---

Three party compensation deferrals: an analysis of PLR 981005

Article Abstract:

Employers who provide services for nonprofit employers may find it valuable to utilize nonqualified deferred compensation plans structured as three party deferral arrangements. Third-party grantor trusts established by the nonprofit parties provide security from creditor claims and no current taxation. The IRS in Private Letter Ruling 9810005 approves of the use of such a plan.

Planning, Usage, Trusts and trustees, Trustees, Trusts (Law), Third parties (Law), Deferred compensation

---

IRS releases final 403(b) audit guidelines

Article Abstract:

This article concerns IRS guidelines which aid employee benefit plan sponsors in preparing for IRS field agent audits of IRC section 403(b) tax-sheltered annuity plans. The guidelines include information regarding plan eligibility, funding, and contribution rules.

Accounting and auditing, Tax auditing, Tax audits

Similar abstracts:

• Abstracts: Two federal courts differ on whether a company has the right to refuse to deal with a company, and the rulings may affect the FTC's case against Intel Corp
• Abstracts: Article III and the Westfall Act: identifying "federal ingredients." (Federal Employees Liability Reform and Tort Compensation Act)
• Abstracts: Who's taking care of mom and dad? Transfers of closely held businesses: ESOPs and succession planning. Comprehensive perpetuation planning
• Abstracts: Negligence as an exception to the forgery doctrine: when does it exist? An historical analysis of pre-bankruptcy conversion cases on a circuit-by-circuit basis
• Abstracts: Tobacco deal advances socialized medicine. Who decides if children are vaccinated? Treatment decisions: tort or contract?

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.