For those of you who deal with teachers working a 9-10 month school year and being paid over a 12 month period, the IRS has issued Notice 2008-62 that makes permanent the temporary relief from the deferred compensation rules (§ 457(f) they issued in
Well, that's nice since I'm REQUIRED to take my 9 month contract earnings over 12 months. Sort of an interest-free, mandatory loan to the Commonweath of Virginia.
(BIG GRIN!)
NO! it is NOT an interest free mandatory loan to Virginny. I'm sure you really know that the procedure is inplace to assure that poor school teachers have a steady source of income so they'll be able to feed their families during the entire year, instead of blowing 9 months worth on cheap Blue Ridge booze.
But still, Bill,a good thought; spoken like the conservative that I know you are.
ChEAr$, Harlan
LMAO!
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