The following chart is provided courtesy of Robert S. Keebler, CPA, MST, DEP.
Disadvantages of Safe Harbor
1. Removing phantom income from higher tax brackets may be advantageous
2. Claim of right or mitigation for closed years
3. State tax issues may affect the analysis
4. May close the "door" to using §§1311-1315 for IRA clawbacks
This chart is designed to be read in conjunction with our outline and analysis of Rev. Proc. 2009-20 and Rev. Rul. 2009-9.
© 2009 Robert S. Keebler, CPA, MST, DEP
www.virchowkrause.com
1. Removing phantom income from higher tax brackets may be advantageous
2. Claim of right or mitigation for closed years
3. State tax issues may affect the analysis
4. May close the "door" to using §§1311-1315 for IRA clawbacks
This chart is designed to be read in conjunction with our outline and analysis of Rev. Proc. 2009-20 and Rev. Rul. 2009-9.
© 2009 Robert S. Keebler, CPA, MST, DEP
www.virchowkrause.com
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