Deferred Compensation Documentation Deadline Extended

Employers now have an extra year, until Dec. 31, 2008, to bring documentation of nonqualified deferred compensation into compliance with final regulations under IRC § 409A, issued in April. Although IRS Notice 2007-78 also provided other transitional relief, it did not postpone the regulations’ Jan. 1, 2008, effective date.

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Getting leases in line

ASC Topic 842 is a relatively simple standard that can mean profound changes for organizations with leases. This report examines what makes this standard challenging and describes new ways for CPAs to add value.

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