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Deferred Compensation › Internal Revenue Code (IRC)

Deferred Compensation is a financial arrangement whereby a portion of an employee's current wages are distributed at a later time, usually to delay tax liability. Deferred compensation often takes the form of... more +
Deferred Compensation is a financial arrangement whereby a portion of an employee's current wages are distributed at a later time, usually to delay tax liability. Deferred compensation often takes the form of stock options or severance payments.  less -
Farella Braun + Martel LLP

The IRS Is Targeting Partnership Transactions: Is Your Representative Ready?

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Earlier this week, Treasury and the IRS issued guidance to halt the use of partnership rules in the Internal Revenue Code to engage in abusive basis-shifting transactions whereby tax basis is stripped from certain assets and...more

Bond Schoeneck & King PLLC

Recent Developments in the World of Sports Provide an Opportunity for a Refresher on Internal Revenue Code Sections 409A and...

Bond Schoeneck & King PLLC on

While the news cycle in the world of sports is ever changing, a few occurrences in the past several years deserve further discussion in the executive compensation community – Shohei Ohtani’s deferral of $680 million in salary...more

Verrill

Section 457(f) Plans and Noncompete Clauses: What the IRS Gave, the FTC May Take Away

Verrill on

When the IRS published proposed regulations harmonizing key provisions of Code Sections 409A and 457(f) in 2016, executive compensation lawyers and consultants rejoiced. It was not just that a long wait was over (roughly nine...more

Lowenstein Sandler LLP

Deferred Compensation: A Primer on Section 409A of the Code and Why it Matters

Lowenstein Sandler LLP on

On this episode of “Just Compensation,” the hosts provide an introduction into Section 409A, the complicated tax code provision that governs non-qualified deferred compensation: when does it apply, how do you comply with it,...more

Lowenstein Sandler LLP

The Impact of 457A on Deferred Compensation from non-US Entities

Lowenstein Sandler LLP on

Today on “Just Compensation,” Darren Goodman, Megan Monson, and Taryn E. Cannataro of Lowenstein's Employee Benefits & Executive Compensation group are joined by Sophia Mokotoff, partner in the firm’s Tax group, to discuss...more

Levenfeld Pearlstein, LLC

Are Partner Retirement or Withdrawal Provisions in Governing Documents Subject to Section 409A of the Internal Revenue Code?

Levenfeld Pearlstein, LLC on

As part of our ongoing series on tax issues for accounting firms, this article provides information on retirement or deferred compensation arrangements, the related rules of Section 409A of the Internal Revenue Code, and how...more

Manatt, Phelps & Phillips, LLP

409A Issues in Executive Compensation Contracts and Employment Agreements

Manatt, Phelps & Phillips, LLP on

Section 409A of the Internal Revenue Code of 1986, as amended (409A), was enacted into law in 2004 to impose statutory requirements on “nonqualified deferred compensation plans, programs or arrangements” (collectively...more

Lowenstein Sandler LLP

“In-the-Money” or Discounted Stock Options: The Pros, Cons, and How to Avoid 409A Violations

Lowenstein Sandler LLP on

In this episode, the hosts discuss how companies can structure “in-the-money” stock options in order to avoid violating IRS rules governing non-qualified deferred compensation. They also address the benefits and potential...more

Harris Beach PLLC

Retirement Accounts: Much Needed Clarity Regarding the 10-Year Rule

Harris Beach PLLC on

Americans hold a considerable percentage of their wealth in retirement accounts. Recent changes to the Internal Revenue Code (the “Code”), as well as proposed regulations, have introduced new rules altering the required...more

Verrill

The How and When of Separations from Service Under Section 409A

Verrill on

Readers who regularly work with deferred compensation plans will know that Section 409A of the Internal Revenue Code (“Section 409A”) prescribes six events or times at which deferred compensation may be distributed to...more

Groom Law Group, Chartered

Administration Budget Proposals Tighten Rules for 409A Violations, VEBA Funding and Indemnity Health Plans

Groom Law Group, Chartered on

On March 28, the Biden Administration submitted its Fiscal Year 2023 budget proposals reflecting its budget and tax policy priorities, which could surface when Congress resumes work on budget reconciliation. While it is...more

Freeman Law

Tax Court in Brief | Hoops, LP v. Commissioner: Deductibility of Deferred Compensation

Freeman Law on

Tax Litigation: The Week of February 21, 2022, through February 25, 2022 - Hicks v. Comm’r, T.C. Memo. 2022-10 | February 23, 2022 | Gale, J. | Dkt. No. 10406-17 - Hoops, LP v. Comm’r, T.C. Memo. 2022-9 | February 23,...more

Snell & Wilmer

Short-Term Deferral Day is Right Around the Corner

Snell & Wilmer on

Section 409A, the provision of the Internal Revenue Code that regulates the time and form of payment of nonqualified deferred compensation, contains a helpful exception for “short-term deferrals.” Specifically, Section 409A...more

Verrill

Nonqualified Deferred Compensation and the Special Timing Rule HR Professionals Should Be Aware of for FICA Tax Purposes

Verrill on

Twenty years ago this month the Enron Corporation imploded in spectacular fashion and declared bankruptcy. In the weeks leading up to its bankruptcy filing, over 100 highly compensated employees raced to receive early...more

Lowenstein Sandler LLP

Code Section 409A - Six Month Delay

Lowenstein Sandler LLP on

In this episode of "Just Compensation," hosts Andrew Graw and Megan Monson focus on a subject that often arises and befuddles clients - the application of the 6-month delay rule under Section 409A of the Internal Revenue...more

Foley & Lardner LLP

Do the New IRS Nonqualified Plan Audit Guidelines Mean Section 409A Audits are Coming?

Foley & Lardner LLP on

The IRS updated its Nonqualified Deferred Compensation Audit Techniques Guide (the “2021 Guide”) in June 2021. The 2021 Guide replaces a similar guide that was published in June 2015. The 2021 Guide does not shed new...more

Faegre Drinker Biddle & Reath LLP

Section 162(m) Final Regulations Clarify Grandfathering Rules to Compensation Payable under Account Balance and Nonaccount Balance...

Faegre Drinker Biddle & Reath LLP on

Pubic companies that sponsor nonqualified deferred compensation plans with grandfathered benefits will want to be aware of helpful payment guidance in the Internal Revenue Code Section 162(m) final regulations. The final...more

Faegre Drinker Biddle & Reath LLP

409A/162(m) Payment Delay Provisions

Faegre Drinker Biddle & Reath LLP on

Public companies that sponsor nonqualified deferred compensation plans that require Internal Revenue Code Section 162(m) payment delays may want to consider whether removing the payment delay provision from a plan is...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Public Company Nonqualified Plan Amendments May Be Required by December 31: The Law of Unintended Consequences Strikes Again

Ogletree, Deakins, Nash, Smoak & Stewart,... on

The Internal Revenue Code is famously complicated, and changes to discrete parts of the code - such as those adopted by the Tax Cuts and Jobs Act of 2017 (TCJA) - have a notorious history of leading to unpredictable and...more

Verrill

December 31 Sunset of Safe Harbor Correction Method for Certain Elective Deferral Failures Benefits Law Update

Verrill on

A special IRS-approved correction method available for elective deferral failures in 401(k) and 403(b) plans with automatic contribution features will sunset on December 31, 2020, meaning it will not be available to correct...more

Akin Gump Strauss Hauer & Feld LLP

2020 Year-End Key Executive Compensation and Employee Benefits Considerations

Akin Gump Strauss Hauer & Feld LLP on

COVID-19 has, among other things, had an impact on executive compensation and employee benefits, and given rise to a number of new issues and considerations. These compensation issues present challenges for companies seeking...more

Husch Blackwell LLP

Deadline Mounts To Amend Deferred Compensation Plans For Section 162(m) Changes

Husch Blackwell LLP on

Certain deferred compensation plans and agreements maintained by publicly held corporations and subject to Section 409A of the Internal Revenue Code may need to be amended before December 31, 2020, to reflect changes in the...more

Holland & Hart - The Benefits Dial

Our D.I.V.O.R.C.E. … Is Going To Be Tricky For My Employer To Handle

Holland & Hart - The Benefits Dial on

Nonqualified deferred compensation plans often include anti-assignment language prohibiting a plan participant from assigning benefits to anyone. Because top-hat plans are exempt from most aspects of ERISA including the...more

Bass, Berry & Sims PLC

Changes to Section 162(m) Affecting Deferred Compensation Arrangements

Bass, Berry & Sims PLC on

Public companies maintaining deferred compensation arrangements for their executive officers should consider how recent changes to the regulations under Section 162(m) of the Internal Revenue Code (the Code) may impact the...more

Groom Law Group, Chartered

Possible Options for Participant Relief Under Section 409A Plans in the Time of Coronavirus

Groom Law Group, Chartered on

The coronavirus pandemic has caused widespread economic uncertainty and unanticipated liquidity issues for a wide range of individuals, including plan participants of nonqualified deferred compensation plans. In these...more

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