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TREAS/IRS | RIN: 1545-BL61 | Publication ID: Spring 2016 |
Title: Treatment of Income From Indian Fishing Rights-Related Activity as Compensation | |
Abstract:
The final regulations would provide that amounts paid to an Indian tribe member as remuneration for services performed in a fishing rights-related activity (as defined in section 7873[b][1]) may be treated as compensation for purposes of applying the limits on qualified plan benefits and contributors imposed by section 415, even though those amounts are not subject to income tax under section 7873(a)(1). |
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Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 26 CFR 1.415(c)-2 | |
Legal Authority: 26 U.S.C. 7805 26 U.S.C. 415(c) 26 U.S.C. 7873 |
Legal Deadline:
None |
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Timetable:
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Additional Information: REG-120927-13 Drafting attorney: Robert Walsh (202) 317-4102 Reviewing attorney: Pamela Kinard (202) 317-4148 Treasury attorney: Dominic DeMatties (202) 622-1352 CC:TEGE | |
Regulatory Flexibility Analysis Required: No | Government Levels Affected: Tribal |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Robert M. Walsh Tax Law Specialist Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Washington, DC 20224 Phone:202 317-4102 Fax:855 604-6087 Email: robert.m.walsh@irscounsel.treas.gov |