List of Expiring Tax Code Provisions

The Joint Committee on Taxation has released a list of tax code provisions which expire between 2008 and 2020. This list contains a number of items which relate to qualified plans and IRAs. Specifically, as stated on the list:

Provisions Expiring in 2009:

47. Allowance of additional IRA contributions in certain bankruptcy cases (sec. 219(b)(5)(C)). Expires 12/31/09

49. Waiver of minimum required distribution rules for IRAs and defined contribution plans (sec. 401(a)(9)(H)). Expires 12/31/09. The waiver also applies to minimum required distributions for 2009 required to be made by April 1, 2010.

50. Tax-free distributions from individual retirement plans for charitable purposes (sec. 408(d)(8)). Expires 12/31/09.

70. Use of single-employer defined benefit plan’s prior-year adjusted funding target attainment percentage to determine application of limitation on benefit accruals (sec. 203 of Pub. L. No. 110-458). Expires 12/31/09. The provision applies to the first plan year that begins during the period beginning on October 1, 2008 and ending on September 30, 2009.

71. Delay of designation of multiemployer plans as in endangered or critical status (sec. 204 0f Pub. L. No. 110- 458). Expires 12/31/09. The provision applies to the first plan year that begins during the period beginning on October 1, 2008 and ending on September 30, 2009.

72. Extension of funding improvement and rehabilitation periods for certain multiemployer pension plans (sec. 205 of Pub. L. No. 110-458). Expires 12/31/09. The provision applies to plan years beginning during 2008 and 2009.

73. Refundable credit for government retirees (sec. 2202 of Pub. L. No. 111-5). Expires 12/31/09

Provisions Expiring in 2010:

1. Provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001. (Pub. L. No. 107-16). Expires 12/31/10. The sunset applies to all EGTRRA provisions otherwise in effect on the expiration date. Pub. L. No. 107-358 repealed the sunset contained in EGTRRA with respect to the exclusion from Federal income tax for restitution received by victims of the Nazi Regime. The Pension Protection Act of 2006, Pub. L. No. 109-280, repealed the sunset contained in EGTRRA with respect to the pension and IRA provisions contained in subtitles A through F of title VI of EGTRRA and with respect to the qualified tuition program provisions in section 402 of EGTRRA.

25. Parity for exclusion for employer-provided mass transit and parking benefits (sec. 132(f)). Expires 12/31/10.

36. Computer technology and equipment allowed as a qualified higher education expense for section 529 accounts (sec. 529(e)(3)(A)(iii)). Expires 12/31/10.

Provisions Expiring in 2013:

7. Transfer of excess pension assets to retiree health accounts (sec. 420(b)(5)). Expires 12/31/13.

Provisions Expiring in 2014:

4. Automatic amortization extension for multiemployer defined benefit pension plans (sec. 431(d)(1)(C)). Expires 12/31/14. A corresponding provision is contained in section 304(d)(1)(C) of ERISA that also expires on December 31, 2014.

5. Additional funding rules for multiemployer defined benefit pension plans in endangered or critical status (sec. 432, and sec. 221(c) of Pub. L. No. 109-280). Expires 12/31/14. A corresponding provision is contained in section 305 of ERISA that also expires on December 31, 2014.

6. Deemed approval of adoption, use or cessation of shortfall funding method for multiemployer defined benefit pension plans (secs. 201(b) and 221(c) of Pub. L. No. 109-280). Expires 12/31/14.

[tag]pension protection act, ppa, joint committee on taxation, jct, ERISA[/tag]

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