Posted in Finance, Accounting and Economics Terms, Total Reads: 261
Definition: GUST Restatement
GUST restatement is a concept in US given for businesses by the IRS where individuals or businesses get saving plans post retirement. By doing so, all the documentation are as per the regulations provided by the IRS.
GUST focuses on the retirement plans of the citizens on United States. Owing to changes in tax law in the United States, the employers are now required to comply with new agreements.
IRS, the Internal Revenue Service is the revenue service of the United States Federal government, which is responsible for collection of taxes and for administration of the Internal Revenue Code.