Tax-Exempt Tribe Fishing Cash OK For Pension Plans: IRS

Law360, New York (November 15, 2013, 7:07 PM EST) -- Native American tribal members who earn money from tax-free fishing activities will be able to contribute those funds toward qualified retirement plans, like 401(k) plans, under a proposed regulation issued Friday by the Internal Revenue Service.

Native American tribal members and entities don't have to pay income taxes on fishing conducted for subsistence and commercial purposes, but there have been questions regarding whether such tax-free funds can be used toward a qualified retirement plan since Internal Revenue Code rules and federal income tax regulations say money...
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