February 20, 2009
System used to electronically deposit amounts withheld for taxes with the IRS.
TD 8723, Treas. Reg. §31.6302-1, IRS Publication 15-A,
Payors are required to use the EFTPS , beginning the year following the year that their withholding exceeds $200,000.
Applicable RMD Age The first year for which an IRA owner or plan participant must begin to take RMDs from their tax-deferred retirement account. RMDs
Definition A SIMPLE 401(k) plan is a 401(k) plan established by a small business for it’s employees. Earnings accrue on a tax-deferred basis and distributions
Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year. For retirement account
Definition The date by which a retirement account owner must begin distributing required minimum distribution (RMD) amounts from a Traditional, SEP or SIMPLE IRA, a
