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Now Is a Good Time to Revisit 409A Compliance

The IRS recently announced a Section 409A compliance initiative project.  The IRS audit project will focus on approximately 50 employers, all of whom were previously identified for employment tax audits.  The IRS indicated that it will focus its examination on: (i) initial deferral elections; (ii) subsequent deferral elections; (iii) distributions; and (iv) application of the […]

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Don’t Miss Short-Term Deferral Day

As some of you know, Section 409A of the Code contains a very helpful exception for “short-term deferrals.”  More specifically, Section 409A provides that a payment will not be considered “nonqualified deferred compensation” if the employer makes payment to the employee no later than the 15th day of the third month following the end of […]