Safe-Harbor

Safe-Harbor

Tax regulations that allow a (usually) simpler method of determining a tax consequence than is available following the precise language of the Code or regulations. An example is the simplified method for determining the taxable portion of pension distributions.
References in periodicals archive ?
2013-13, issued in January, the IRS gave taxpayers an optional safe-harbor method to calculate a deduction for expenses of a business use of a residence under Sec.
The procedure provides three safe-harbor methods that permit individuals to calculate the decrease in FMV of their personal residences and one safe-harbor method that allows individuals to calculate the decrease in FMV of their personal belongings.
The IRS issued guidance (Q&A 12 in Notice 89-25) that provided three safe-harbor methods for satisfying this exception.
Given the limited application of the proposed scheme to most of the companies represented by TEI's membership - and the seeming "inevitability" of the ratcheting down of the safe-harbor percentage as the means of "paying for" the new system (if a funding mechanism is necessary) - the Institute has not previously commented on the proposed regulations.
doc) and others, the IRS has provided, in recently issued Notice 2006-15, an extension of the June 28, 2005 safe-harbor grandfather date (from Rev.
The exchange must be completed within 180 days to receive the automatic safe-harbor protection.
It involves compliance with an administrative scrutiny requirement of either the statutory safe-harbor test or one of five administrative safe harbors.
RolloverSystems announced today BPA-HARBRIDGE (BPA-H) will make available its EGTRRA-compliant safe-harbor IRA to thousands of plan sponsors via RolloverSystems' Safe-Harbor IRA Provider (SHIP) Network.
2006-14, which provides heavy equipment dealers with a safe-harbor accounting method for using the replacement cost method for valuing heavy equipment parts inventory.
However, effective for plan years beginning in 1999, the Small Business Job Protection Act of 1996 introduced safe-harbor formulas for 401(k) salary deferral and matching contributions that eliminated the need for employers to perform annual nondiscrimination testing.
In the alternative, we believe that a different turnover rate should be assigned to each industry category enumerated in the contemplated revenue procedure for safe-harbor industry categories.
Safe-harbor statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including but not limited to certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.