IRS Issues Notice 2007-99 – Guidance Modifies Deduction Exclusion

The IRS has issued Notice 2007-99 regarding Section 402(l) of the Internal Revenue Code.  Section 402(l) provides for a $3,000 exclusion from gross income for certain governmental pension plan distributions that are used to pay for health insurance premium deductions.  Notice 2007-99 makes clear that the Section 402(l) exclusion also applies to self-insured accident and health insurance.

For more information about the Notice, please contact Mary Beth Braitman, Terry A.M. Mumford, Lisa Erb Harrison, Katrina M. Clingerman or the Ice Miller LLP Employee Benefits attorney with whom you work.