Specifically, for the year 2000, the allocated rent ($100,000) does not exceed the rent allocated as of the close of 2001 ($100,000); for 2001, the cumulative allocated rent ($200,000) does not exceed the cumulative rent paid as of the close the succeeding calendar year
($200,000); likewise, the cumulative allocated rent through 2003 ($300,000) does not exceed the cumulative rent paid as of the close of 2004 ($400,000).
A plan may be amended to allow (for the first time only) accelerated payments to a participant, provided the payment is less than $10,000; accompanies the termination of the participant's entire interest in the plan; and is made on or before the later of December 31 of the calendar year
the plan participant separates from service or 2 1/2 months after the actual separation date.
Under the substantial-presence test, an individual is deemed a resident on the first day during the calendar year
on which he is present in the U.
The RBD for employees (other than five-percent owners) is April 1 of the calendar year
following the later of the calendar year
in which the employee attains age 70 1/2, or the calendar year
in which the employee retires.
The shareholders want the corporation to elect S status and change to a calendar year
Have changed its year-end at any time within the last six calendar years
(or the years of the corporation's existence, if less than six);
Excessco has not changed its tax year within the previous 10 calendar years
ending with 1996.