What does statutory additions mean

Includible Compensation will not include Employee pick-up contributions described in Section h 2 of the Code. In no event may Includible Compensation exceed the maximum limit established under Code Section a 17 for the applicable calendar year being tested. Loss in excess of policy limits means Applicable Wages means the basic straight time wages for all hours worked, including:. Taxable Income or "Tax Loss" shall mean the taxable income or tax loss of the Trust, determined in accordance with Section a of the Code, for each Fiscal Year as determined for federal income tax purposes, together with each of the Trust's items of income, gain, loss or deduction which is separately stated or otherwise not included in computing taxable income and tax loss.

The period for determining s Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested.

The period used to determine s Compensation must be applied uniformly to all Participants for the Plan Year. Apportionable income means the gross income of the business taxable under the service classifications of a city's gross receipts tax, including income received from activities outside the city if the income would be taxable under the service classification if received from activities within the city, less any exemptions or deductions available.

Pyramiding means the use of unrealized profits on existing Commodities positions to provide margins for additional Commodities positions of the same or a related commodity. The erroneous written advice you relied on that was furnished to you by the IRS. The report, if any, of tax adjustments identifying the penalty or addition to tax, and the item s relating to the erroneous advice. Is Interest Relief Available? Related Topics Penalty Relief. Page Last Reviewed or Updated: Nov Sign up to our newsletter to hear about industry updates, free webinars, CPD events and special offers.

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