News & Analysis as of

Internal Revenue Service Severance Agreements Tax Exempt Entities

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.  
Pillsbury Winthrop Shaw Pittman LLP

Developments in Association Law 2022 – 2024

The following is a review of notable cases and regulatory developments for nonprofit organizations at the federal and state levels during the last two years....more

Jackson Lewis P.C.

Severance Agreements For Executives At Tax-Exempt Organizations: Beware Unintended Consequences Of Excise Taxes, Early Inclusion,...

Jackson Lewis P.C. on

When it’s time for tax-exempt organizations such as colleges/universities, museums, and hospital systems to part ways with their senior executives, these institutions are most often considering how to best transition these...more

Pillsbury Winthrop Shaw Pittman LLP

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

Bond Schoeneck & King PLLC

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

Locke Lord LLP

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

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

Mintz - Employment Viewpoints

The Impact of Recently Proposed Regulations on Ineligible Nonqualified Plans Under Internal Revenue Code § 457(f)

The Treasury Department and the Internal Revenue Service recently issued comprehensive proposed regulations governing nonqualified plans subject to tax under Internal Revenue Code § 457. Code § 457 prescribes the tax rules...more

Blank Rome LLP

New Proposed IRS Regulations Have Potential Broad Implications for Deferred Compensation and Severance Arrangements of Tax Exempt...

Blank Rome LLP on

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

Skadden, Arps, Slate, Meagher & Flom LLP

"New Rules Impact Compensation Arrangements of Governmental and Tax-Exempt Entities"

On June 22, 2016, the IRS published much-anticipated proposed regulations under Internal Revenue Code Section 457 impacting certain plans maintained by state or local governments or other tax-exempt organizations that provide...more

McDermott Will & Emery

IRS Issues Regulations Affecting Compensation Arrangements at Tax-Exempt Organizations

McDermott Will & Emery on

On June 21, the IRS issued long awaited proposed regulations under Section 457 of the Internal Revenue Code that affect a broad range of compensation arrangements at tax exempt organizations. If a compensation arrangement is...more

Ballard Spahr LLP

Flexibility Offered for Deferred Compensation Plans of Tax-Exempt Organizations, Government Agencies

Ballard Spahr LLP on

The U.S. Treasury Department has issued two sets of proposed regulations, under Sections 457 and 409A of the Internal Revenue Code, relating to deferred compensation plans of state and local governments and tax-exempt...more

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