Which of the following statements is incorrect regarding the credit for small employer pension plan...
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Accounting
Which of the following statements is incorrect regarding the credit for small employer pension plan startup costs?
a. The maximum credit allowed each year is $500.
b. The credit is available for the first five years in which the new pension plan is offered.
c. The credit is not available to employers who have maintained a qualified pension plan during any of the past three years.
d. To be eligible for the credit, a new pension plan must be established.
e. All of the above statements are correct.
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