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Posted by Bill Brown on August 15, 2008, 10:46 am
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> Bill Brown wrote:
> >> 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
> >> 2007. The Notice is self-explanatory.
>
> >>http://www.irs.gov/pub/irs-drop/n-08-62.pdf
>
> > 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.
>
LMAO!
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