Sunday, April 24, 2011
409A Nominated for Repeal under "Just Plain Dumb" Initiative
By Donald Kalfen on Boardmember.com:
"Imagine a day when the President of the United States tells federal regulators to conduct a government-wide review to “root out regulations that conflict, that are not worth the cost, or that are just plain dumb.” That day arrived on January 18, 2011. President Obama penned an op-ed piece appearing in the January 18th issue of The Wall Street Journal in which he announced the signing of an executive order directing regulators to toss in the trash bin ill-advised regulations of commerce...
...It is time to mark for extinction three well-known, often written about and little admired tax sections that have been wreaking havoc for some time – 162(m), 280G and 409A. The first two sections represent the misguided attempts by Congress to dictate the design of officer compensation through the heavy hand of the tax code. The last section represents a case of Congressional overreaching."
Posted by Editor at 5:08 AM