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Internal Revenue Service Section 409A

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  

Valuation of Illiquid Portfolio Investments – Avoiding Regulatory Risks with Form and Substance

For private fund managers, the valuation of privately-held securities has been subject to heightened regulatory scrutiny. As the IPO on-ramp for private “unicorn” investments has lengthened, fund managers may hold illiquid...more

Severance Agreements – Three Tax Traps for the Unwary

by Foley & Lardner LLP on

Severance agreements – especially severance agreements for terminating executives – are ripe with potential tax planning challenges and opportunities....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

There’s been a bit of a stir in the paint world, with Dutch firm Akzo Nobel rejecting a takeover bid from PPG Industries valued at $22 billion. In a statement, Akzo claimed that the offer “substantially undervalues” the...more

Employee Benefits Developments - January 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of January, 2017. Click through the links below for more information on each specific development or case. IRS...more

Focus on Tax Strategies & Developments - December 2016

by McDermott Will & Emery on

Significant Changes in US Tax System Likely - In the short time since the surprising election of Donald J. Trump as the 45th president of the United States, much already has been written about the likelihood and likely...more

Higher Education Tax and Benefits Memo: Recent IRS Audit is a Reminder to Check Whether Your Employment Agreements and Appointment...

by Bond Schoeneck & King PLLC on

The Internal Revenue Service ("IRS") recently notified a major university that it is being audited, and as part of that audit requested copies of the employment agreements of the president of the university, the provost of...more

Code Section 409A and You: The IRS Issues New Guidance

Authors: John A. Morrison (Atlanta), Taylor Bracewell (Atlanta) Published Date: October 11, 2016 Earlier this summer, the Internal Revenue Service (IRS) issued proposed regulations under Sections 409A and 457 of the Internal...more

A New Landscape - Compliance clarifications and planning opportunities for governmental and tax-exempt employers sponsoring...

On June 22, 2016, the Internal Revenue Service (IRS) published its long-awaited proposed regulations (the Proposed Regulations) under Section 457(f) of the Internal Revenue Code (the Code). Section 457(f) governs the taxation...more

Review of Section 409A Proposed Regulations

by McDermott Will & Emery on

On June 22, 2016, the Internal Revenue Service (IRS) issued proposed changes to the regulations under the Internal Revenue Code (Code) §409A. The Code intends to clarify or modify a wide range of very restrictive rules...more

Proposed Treasury Regulations Provide Additional Flexibility, Clarity and Planning Opportunities to Sponsors of Deferred...

The IRS recently issued proposed regulations under Internal Revenue Code Section 457 that address, among other things, the interplay between Code Section 457(f) and Code Section 409A. Additionally, the IRS issued clarifying...more

Good News! New 409A Regulations (Yes, Really!) – Part 5: If it Ain’t Broke, Don’t Fix It (and Other Minor Changes)

by Bryan Cave on

On the TV show Futurama, the aged proprietor of the delivery company Planet Express, Professor Hubert J. Farnsworth, had a habit of entering a room where the other characters were gathered and sharing his trademark line,...more

Employee Benefits: Steps Eligible Tax-Exempt and Governmental Employers Should Take Regarding the New Proposed Deferred...

After more than nine years of waiting, eligible tax-exempt, state government and local government employers (collectively, "Tax-Exempt and Governmental Employers") finally have received the guidance long promised by the...more

New Proposed Regulations for Section 457(f) Nonqualified Deferred Compensation Arrangements of Non-Profit and Governmental...

The Internal Revenue Service recently released long anticipated proposed regulations (the “Proposed Regulations”) governing deferred compensation arrangements maintained by tax-exempt organizations and governmental entities...more

Employee Benefits Developments - July 2016

by Hodgson Russ LLP on

Section 409A of the Internal Revenue Code (“Section 409A”) generally provides that, if a plan providing for deferred compensation fails to comply with Section 409A, either in form or in operation, then all amounts deferred...more

Top 10 rules for compliant non-qualified deferred compensation

by Thompson Coburn LLP on

By Lori Jones Internal Revenue Code Section 409A regulates nonqualified deferred compensation (NQDC) plans and arrangements, which are commonly used to provide supplemental compensation to key executives. Complying with...more

Good News! New 409A Regulations (Yes, Really!) – Part 4: Getting Paid

by Bryan Cave on

On the TV show Futurama, the aged proprietor of the delivery company Planet Express, Professor Hubert J. Farnsworth, had a habit of entering a room where the other characters were gathered and sharing his trademark line,...more

The Proposed Code Section 457 Regulations Have Arrived

by Bracewell LLP on

On June 22, 2016, the IRS finally issued the long-awaited proposed regulations under Internal Revenue Code (“Code”) Section 457. Code Section 457 applies to deferred compensation plans or arrangements of tax-exempt entities...more

IRS Issues Proposed Regulations Under Code Section 457(f)

by Pierce Atwood LLP on

In June 2016, the IRS issued long-awaited proposed regulations under Section 457(f) of the Internal Revenue Code of 1986, as amended. While the proposed regulations will generally apply to compensation deferred under a plan...more

Good News! New 409A Regulations (Yes, Really!) – Part 3: Don’t Fear the (409A) Reaper

by Bryan Cave on

On the TV show Futurama, the aged proprietor of the delivery company Planet Express, Professor Hubert J. Farnsworth, had a habit of entering a room where the other characters were gathered and sharing his trademark line,...more

New Proposed 457 Regulations May Impact Deferred Compensation Arrangements Maintained by Tax-Exempt and Governmental Employers

by Sherman & Howard L.L.C. on

On June 21, 2016, concurrent with its issuance of proposed regulations under Code section 409A, the IRS also issued proposed regulations under Code section 457, which address deferred compensation arrangements covering...more

IRS Issues Proposed Regulations Affecting Deferred Compensation Plans of Tax-Exempt Organizations

by Locke Lord LLP on

On June 21, 2016, after more than 15 years of ongoing deliberations, the U.S. Department of the Treasury (the Dept. of Treasury) issued proposed regulations under Section 457 of the Internal Revenue Code of 1986 (the Code),...more

IRS Proposes Modifications to Proposed Income Inclusion Regulations under Section 409A

by Proskauer - Tax Talks on

In general, proposed rulemaking issued in December 2008 with respect to income inclusion under Section 409A of the Internal Revenue Code of 1986, as amended (available here) provides that if there is a Section 409A violation...more

Employee Benefits Advisory: New Proposed 457 Regulations May Impact Deferred Compensation Arrangements Maintained by Tax-Exempt...

by Sherman & Howard L.L.C. on

On June 21, 2016, concurrent with its issuance of proposed regulations under Code section 409A, the IRS also issued proposed regulations under Code section 457, which address deferred compensation arrangements covering...more

Proposed Section 409A Regulations Would Clarify Separation from Service Analysis in Connection with Change in Status From Employee...

by Proskauer - Tax Talks on

Pursuant to the final regulations under Section 409A of the Internal Revenue Code of 1986, as amended, a termination of employment generally occurs at such time as the employer and employee reasonably anticipate that the...more

Cautionary Observations from the Proposed 457 Regulations

by Bryan Cave on

After more than nine years of deliberations, the IRS has finally released proposed regulations governing all types of deferred compensation plans maintained by non-profit organizations and governmental entities. In...more

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