Deferred Compensation Form For 2023 In Allegheny
Category:
State:
Multi-State
County:
Allegheny
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
Description
Deferred compensation is an arrangement in which a portion of an employee's income is paid out at a date after which the income is actually earned. A Deferred Compensation Agreement is a contractual agreement in which an employee (or independent contractor) agrees to be paid in a future year for services rendered. Deferred compensation payments generally commence upon termination of employment (e.g., retirement) or death or disability before retirement. These agreements are often geared toward anticipated retirement in order to provide cash payments to the retiree and to defer taxation to a year when the recipient is in a lower bracket. Although the employer's contractual obligation to pay the deferred compensation is typically unsecured, the obligation still constitutes a contractual promise.
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1.Log in to your online Defined Contribution Plan account. Deferred compensation typically is taxable at the time and place of receipt, unless taxed previously.457(b) Deferred Compensation Plan. Learn how to start investing and find out which options are available for this plan. Check the box for the return for which you are using this Form 8879TE and enter the applicable amount, if any, from the return. Tax Forms, Work From Home - Local Services Tax and Payroll Expense Tax Information(PDF, 245KB), Important Information for City of Pittsburgh Taxpayers.