Sec. 1505. Override of Treasury guidance providing that certain employer-provided supplemental unemployment benefits are not subject to employment taxes
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/bill/113/hr/1/ih/section-1505A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective with respect to amounts paid after December 31, 2014— Revenue Ruling 56–249, Revenue Ruling 58–128, Revenue Ruling 60–330, so much of the holding of Revenue Ruling 77–347 as relates to Plan
(1)and Plan (2), Revenue Ruling 90–72, and any other ruling, regulation, or other guidance provided by the Secretary of the Treasury, or his designee, to the extent that such ruling, regulation, or guidance provides that any payment made by an employer by reason of involuntary termination of employment shall not be treated as wages or compensation for purposes of any provision of the Internal Revenue Code of 1986, shall be null and void. The preceding sentence shall not apply to the extent a ruling, regulation, or other guidance implements a statutory exception to wages or compensation. Section 3402(o)(1) is amended by striking subparagraph
(A)and by redesignating subparagraphs
(B)and
(C)as subparagraphs
(A)and (B), respectively. Section 3402(o)(2) is amended by striking subparagraph
(A)and by redesignating subparagraphs
(B)and
(C)as subparagraphs
(A)and (B), respectively. Section 3402(o)(5)(A) is amended by striking paragraph (1)(C) and inserting paragraph (1)(B) . The amendments made by this subsection shall apply to amounts paid after December 31, 2013. No amendment made by this subsection shall be construed to create any inference with respect to any amounts paid before January 1, 2014.