Oct 28, 2022 1:36:36 PM
My administrator just informed me that we have exceeded 415 limits, but I know for a fact our contribution for the year is under the maximum 404 limit. What gives? Let’s look at the difference between Internal Revenue Code (IRC) 404 - Deduction of Employer Contributions and IRC – 415 Maximum Annual Additions.
Topics: IRC, Compliance Testing, 415 Limits
Nov 15, 2016 1:41:38 PM
Many C Corporation companies who sponsor an Employee Stock Ownership Plan elect to pay dividends to their ESOP. This article will provide a summary of the rules that the company needs to follow if they wish claim a deduction on the dividends paid to the ESOP.
Topics: S-Corp, Dividend Rules, IRC, C-Corporation
