On February 21, 2024, the Internal Revenue Service (IRS) announced plans to commence a focused audit effort targeting private aircraft usage by dozens of large corporations, large partnerships and high-income individual...more
2/27/2024
/ Aircraft ,
Business Taxes ,
Business Travel ,
Corporate Taxes ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Large Business & International Division (LB&I) ,
Personal Use ,
Personal Use of Employer Property ,
Tax Audits ,
Tax Deductions
Transition relief for amending nonqualified deferred compensation (NQDC) plans to reflect the 2017 amendments to Section 162(m) of the Internal Revenue Code will expire on December 31, 2020. ...more
On August 21, 2018, the Treasury Department and the Internal Revenue Service (IRS) issued Notice 2018-68, which provides eagerly awaited guidance for changes that were made to Section 162(m) of the Internal Revenue Code...more
8/23/2018
/ CEOs ,
CFOs ,
Compensation & Benefits ,
Covered Employees ,
Deferred Compensation ,
Employee Benefits ,
Employment Contract ,
Executive Compensation ,
Grandfathering Rules ,
Internal Revenue Code (IRC) ,
IRS ,
Pay-for-Performance ,
Proposed Guidance ,
Publicly-Traded Companies ,
Section 162(m) ,
Tax Cuts and Jobs Act ,
Vesting
On December 22, 2017, President Donald Trump signed into law the Tax Cuts and Jobs Act (the Act), which imposes a new excise tax on certain tax-exempt organizations for compensation paid to their covered employees in excess...more
1/18/2018
/ Covered Employees ,
Deferred Compensation ,
Exceptions ,
Excise Tax ,
Executive Compensation ,
Golden Parachutes ,
Internal Revenue Code (IRC) ,
Section 501 ,
Tax Cuts and Jobs Act ,
Tax Exempt Entities ,
Tax Reform ,
Trump Administration ,
Vesting
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the Act), which includes significant changes to the executive compensation deduction rules in Section 162(m) of the Internal Revenue Code (Code)...more
1/5/2018
/ CEOs ,
CFOs ,
Deferred Compensation ,
Executive Compensation ,
Internal Revenue Code (IRC) ,
Nasdaq ,
NYSE ,
Pay-for-Performance ,
Publicly-Traded Companies ,
Retirement Plan ,
Section 16 ,
Section 162(m) ,
Securities Exchange Act ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Trump Administration
The Department of Labor (DOL) recently issued guidance on the Conflicts of Interest Rule it released earlier this year. The guidance, issued on October 27, 2016, is in the form of answers to frequently asked questions, which...more
11/8/2016
/ Audits ,
Best Interest Contract Exemptions ,
Compliance ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Executive Compensation ,
Financial Adviser ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
New Guidance ,
Prohibited Transactions ,
Retirement Plan
In an unexpected development, on June 21, 2016, the IRS issued proposed regulations that clarify and modify the final regulations issued in 2007 and the proposed income inclusion regulations issued in 2008. In many cases,...more
7/5/2016
/ Beneficiaries ,
Death Benefits ,
Deferred Compensation ,
Employee Benefits ,
Executive Compensation ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Restricted Stocks ,
Section 409A ,
Severance Agreements ,
Vesting
On April 6, 2016, the Department of Labor (DOL) issued a widely anticipated final regulation that redefines who is a “fiduciary” of certain employee benefit and other plans for purposes of the Employee Retirement Income...more
4/26/2016
/ 401k ,
Administrative Exemption ,
Best Interest Contract Exemptions ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
IRS ,
Retirement Plan
On April 20, 2015, more than three years after withdrawing a similar proposal that was staunchly opposed by the financial services industry, the U.S. Department of Labor (DOL) published in the Federal Register a proposed...more
4/29/2015
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
Pension Funds ,
Prohibited Transactions
In This Issue:
- Incorporate lessons from 2013 say-on-pay results
- Prepare for new Form SD (Specialized Disclosure) filing requirements
- Ensure compliance with revised listing standards related to compensation...more
12/10/2013
/ Audits ,
Board of Directors ,
Compensation Committee ,
Compliance ,
Corporate Governance ,
Disclosure Requirements ,
Dodd-Frank ,
Executive Compensation ,
Filing Requirements ,
Form SD ,
Forum Selection ,
Internal Revenue Code (IRC) ,
Pay Ratio ,
PCAOB ,
Say-on-Pay ,
Section 162(m) ,
Securities and Exchange Commission (SEC) ,
Shareholder Votes ,
Shareholders