Removing Excess Contributions Sample Clauses

Removing Excess Contributions. For purposes of determining excess contributions, any contribution that is withdrawn on or before the due date (including extensions) for filing your tax return for the year is treated as an amount not contributed. This treatment only applies if any earnings on the contributions are also withdrawn. The earnings are considered earned and received in the year the excess contribution was made. If you filed your tax return without withdrawing a contribution that you made in the tax year, the IRS allows you to have the contribution returned to you within 6 months of the due date of your tax return, excluding extensions. If you make this withdrawal you can file an amended federal tax return with “Filed pursuant to section 301.9100-2” written at the top. You should also report any related earnings on the amended return and include an explanation of the withdrawal. In general, if the excess contributions for a year aren’t withdrawn by the date your federal tax return for the year is due (including extensions), you will be subject to a 6% tax and other taxes may apply. You must pay the 6% tax each year on excess amounts that remain in your IRA at the end of the tax year.
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Related to Removing Excess Contributions

  • Annual Leave (a) An employee may elect with the consent of the employer, subject to the Annual Xxxxxxxx Xxx 0000, to take annual leave not exceeding five days in single day periods or part thereof, in any calendar year at a time or times agreed by the parties.

  • Leave of Absence With respect to the Award, the Company may, in its sole discretion, determine that if you are on leave of absence for any reason you will be considered to still be in the employ of, or providing services for, the Company, provided that rights to the Restricted Shares during a leave of absence will be limited to the extent to which those rights were earned or vested when the leave of absence began.

  • Probationary Period A new employee will be considered on probation until he has completed forty-five (45) days of work (or 337.5 hours of work for employees whose regular hours of work are other than the standard work day), within any twelve (12) calendar months. Upon completion of the probationary period he shall be credited with seniority equal to forty-five (45) working days. With the written consent of the Hospital, the probationary employee and the President of the Local Union or designate, such probationary period may be extended. Any extensions agreed to will be in writing and will specify the length of the extension. The release or discharge of an employee during the probationary period shall not be the subject of a grievance or arbitration.

  • Smoking Persons working under Agreement shall adhere to local smoking policies. Smoking will only be permitted in posted areas or off premises.

  • Maternity Leave (a) An employee is entitled to maternity leave of up to 17 weeks without pay.

  • Proposed Corrective Action Plan Simultaneously with the submission of the Audit, the Recipient will submit to OCR for its review and approval a proposed Corrective Action Plan to address all inaccessible content and functionality identified during the Recipient’s Audit. The proposed Corrective Action Plan will set out a detailed schedule for: (1) addressing problems, taking into account identified priorities, with all corrective actions to be completed within 18 months of the date OCR approved the Corrective Action Plan; (2) setting up systems of accountability and verifying claims of accessibility by vendors or open sources; and setting up a system of testing and accountability to maintain the accessibility of all online content and functionality on an ongoing basis.

  • Overtime Overtime will begin to accrue after sixty (60) hours in a two (2) week period averaged over the scheduling period determined by the local parties. Overtime will apply if the employee works in excess of the normal daily hours. Payment for overtime is as in Article 16.01.

  • Taxes The Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes.

  • Compassionate Leave (a) An employee is entitled to 2 days of compassionate leave for each occasion when a member of the employee's immediate family, or a member of the employee's household:

  • Parental Leave (a) A nurse who becomes a parent of a child is eligible to take a parental leave in accordance with the provisions of the Employment Standards Act, except where amended in this provision.

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