School Teachers & Deferred Compensation


A

Alan

For those of you who deal with teachers working a 9-10 month
school year and being paid over a 12 month period, the IRS has
issued Notice 2008-62 that makes permanent the temporary relief
from the deferred compensation rules (§ 457(f) they issued in
2007. The Notice is self-explanatory.

http://www.irs.gov/pub/irs-drop/n-08-62.pdf
 
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B

Bill Brown

For those of you who deal with teachers working a 9-10 month
school year and being paid over a 12 month period, the IRS has
issued Notice 2008-62 that makes permanent the temporary relief
from the deferred compensation rules (§ 457(f) they issued in
2007. The Notice is self-explanatory.

http://www.irs.gov/pub/irs-drop/n-08-62.pdf
Well, that's nice since I'm REQUIRED to take my 9 month contract
earnings over 12 months. Sort of an interest-free, mandatory loan to
the Commonweath of Virginia.
 
H

Harlan Lunsford

Bill said:
Well, that's nice since I'm REQUIRED to take my 9 month contract
earnings over 12 months. Sort of an interest-free, mandatory loan to
the Commonweath of Virginia.
(BIG GRIN!)

NO! it is NOT an interest free mandatory loan to Virginny. I'm sure
you really know that the procedure is inplace to assure that poor school
teachers have a steady source of income so they'll be able to feed their
families during the entire year, instead of blowing 9 months worth on
cheap Blue Ridge booze.

But still, Bill,a good thought; spoken like the conservative that I know
you are.

ChEAr$,
Harlan
 
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B

Bill Brown

(BIG GRIN!)

NO!  it is NOT an interest free mandatory loan to Virginny.  I'm sure
you really know that the procedure is inplace to assure that poor school
teachers have a steady source of income so they'll be able to feed their
families during the entire year, instead of blowing 9 months worth on
cheap Blue Ridge booze.

But still, Bill,a good thought; spoken like the conservative that I know
you are.
LMAO!
 

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