Deferred Compensation Regs Deferred


After delaying for one year new documentation requirements of IRC section 409A concerning nonqualified deferred compensation plans, the Service also extended transition relief for most other provisions until 2009. Notice 2007-86 providing the transition relief supersedes or modifies several provisions contained in Notice 2007-78. It does not affect, however, the latter notice’s guidance concerning predetermined cash-out features or restrictions on certain trusts and other arrangements.

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.