Tax Qualified - How is Tax Qualified abbreviated?
TQ (redirected from Tax Qualified)
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References in periodicals archive
These revisions to EPCRS bring the corrections available to sponsors of 403(b) plans into line with those available to the sponsors of tax qualified
The interest payments must be a reasonable business expense (e.g., the corporation must have a need for key person insurance) and the contract must be "tax qualified
" (again, see page 476).
Under the DRA, partnership policies must provide inflation and be tax qualified
under IRS rules.
If a prototype plan is not tax qualified
, then significant tax sanctions are generally applicable and may be imposed by the IRS against the employer, the plan's trust and the plan participants.