WASHINGTON, May 4 -- Internal Revenue Service has issued a rule called: Treatment of Income From Indian Fishing Rights-Related Activity as Compensation.
The rule was published in the Federal Register on May 4 by Frank J. Bisignano, Chief Executive Officer, IRS.
Summary: This document contains final regulations providing that amounts paid to a member of an Indian Tribe as remuneration for services performed in a fishing rights-related activity may be treated as compensation for purposes of applying the limits on qualified retirement plan benefits and contributions. These regulations affect participants, beneficiaries, sponsors, and administrators of Tribal plans.
For more information, contact Jamie Dvoretzky at 202/317-4102, or Pamela Kin...