Friday, December 9, 2011
IRS Will "Clean Up" 409A
Plans on using 457A regs to clean up 409A. Click Here.
According to Sherman & Patterson:
"A key IRS attorney said last week that the § 457(f) regulations will be used as a vehicle to do some § 409A “clean-up.” He also referred to the initial guidance being proposed rules. These comments seem to indicate that the regulations are moving forward, are broader than originally thought, and have a better chance of receiving earlier rather than later attention. The indication that they will come out in proposed form is positive news as it will not only give a chance for comment, but a longer period for easing into the new rules."
Posted by Editor at 12:16 PM