Thursday, May 6, 2010

Lawyers ask IRS to "Lighten Up"

Article by Financial Advisor

"Tax lawyers want the IRS to lighten up on corporate executives when honest mistakes are made in their deferred pay plans. Right now, those executives face heavy tax penalties from even small, and often widely occurring, errors. So the American Bar Association's tax group is asking that the Internal Revenue Service relax parts of the tax code's section 409A, which covers deferred compensation plans."

No comments: