I'm subscribed to several IRS mailing lists in which guidance and other
issues are announced. I skim through it in case it's applicable.

I found this fact sheet confusing.

https://content.govdelivery.com/accounts/USIRS/bulletins/3b1e278

It's an alert that de minimis financial incentives given to employees to encourage their participation in certain retirement plans, a provision
of SECURE 2.0 Act, might affect how W-2s and similar payroll information returns are prepared.

Huh?

The whole point of deminimis rules is that it's not large enough to
be reported.

There's a reference to a notice published in an issue of Internal
Revenue Bulletin that makes the issue clearer.

https://www.irs.gov/irb/2024-02_IRB#NOT-2024-2

Read Q&A D-1 through D-6. De minimis is "does not exceed $250 in value".

That makes more sense.

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On 8/29/2024 2:53 PM, Adam H. Kerman wrote:

I'm subscribed to several IRS mailing lists in which guidance and other issues are announced. I skim through it in case it's applicable.

I found this fact sheet confusing.

https://content.govdelivery.com/accounts/USIRS/bulletins/3b1e278

It's an alert that de minimis financial incentives given to employees to encourage their participation in certain retirement plans, a provision
of SECURE 2.0 Act, might affect how W-2s and similar payroll information returns are prepared.

Huh?

The whole point of deminimis rules is that it's not large enough to
be reported.

There's a reference to a notice published in an issue of Internal
Revenue Bulletin that makes the issue clearer.

https://www.irs.gov/irb/2024-02_IRB#NOT-2024-2

Read Q&A D-1 through D-6. De minimis is "does not exceed $250 in value".

That makes more sense.

So, as I understand it, here De minimus is not that is its not large
enough to be reported as taxable income, but that it is not large enough
to violate the contingent benefit rule and which would otherwise void
the entire deferred compensation arrangement.

Good find, thanks.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2011) - All rights reserved. >>
<< ------------------------------------------------------- >>

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* Origin: fsxNet Usenet Gateway (21:1/5)