Section 409A was added to the Tax Code in 2004 to, among other things, limit the ability of companies and their executives to optimize tax outcomes by controlling the timing of deferred compensation payments. Although this...more
As part of 2017’s Tax Cuts and Jobs Act, Congress added new Section 4960 to the Internal Revenue Code. Section 4960 imposes an excise tax — currently set at 21 percent — on “applicable tax-exempt organizations” that pay...more
The Tax Cuts and Jobs Act (the “Act”), which was agreed upon by the House/Senate Conference Committee last week, includes a provision that imposes an excise tax equal to the corporate tax rate—which is 21 percent under the...more
On October 27, 2016, the Internal Revenue Service (“IRS”) announced the following dollar limits applicable to tax-qualified plans for 2017: -
The limit on the maximum amount of elective contributions that a person may...more
Action Item: On June 22, 2016, the Internal Revenue Service (“IRS”) issued long-awaited proposed regulations under Section 457 of the Internal Revenue Code that could significantly impact the deferred compensation and...more