### Question
How does SHARING, STOCK BONUS PLANS, ETC. define current liability?


### Answer
Under *26 U.S.C. § 412*, **current liability** is defined as:

> all liabilities to employees and their beneficiaries under the plan

#### Citation:
  - *26 U.S.C. § 412*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter D-Deferred Compensation, Etc. > PART I-PENSION, PROFIT-SHARING, STOCK BONUS PLANS, ETC. > Subpart B-Special Rules**

