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Article: Deferred Compensation Update: IRS Issues Proposed Regulations under Code Section 409A.
- Article from:
- Mondaq Business Briefing
- Article date:
- October 27, 2005
- Author:
CopyrightCOPYRIGHT 2005 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Paul Borden, Patrick McCabe, Yana S. Johnson, Thomas D. Scholz and Timothy G. Verrall
On September 29, 2005, the IRS issued its long-awaited proposed regulations under Code Section 409A (the "Proposed Regulations"). As outlined in prior legal updates (Deferred Compensation Plans To Undergo Major Changes Under American Jobs Creation Act of 2004, October 2004, and Deferred Compensation Update: IRS Issues Initial Guidance, Notice 2005-1, January 2005), Section 409A of the Internal Revenue Code, adopted as part of the American Jobs Creation Act of 2004, enacts a major overhaul to the tax treatment of deferred compensation.
Section 409A generally ...