As our office has discussed in Legal Update Memos No. 19-2007, 11-2008, 20-2008, and 29-2008 the United States Internal Revenue Service (“IRS”) published new regulations governing Tax Shelter Annuities (“TSA”) allowed under Title 26 of the United States Code section 403(b). The regulations apply to K-12 public school districts, county offices of education, and community college districts (“districts”). The regulations place significant new administrative burdens upon districts that choose to offer a 403(b) TSA to its employees., search terms: Internal Revenue Service, Tax Shelter Annuity, 403(b), Information Sharing Agreement
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