Irs Offers Correction Path for Deferred-Comp Errors
Compliance Week › Vol. 7 Nbr. 74, March 2010
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Summary
[Brian Pinheiro] says employers have another incentive to clean up any Section 409A documentation failures this year: to avoid an audit. "The IRS has announced that it plans to look closely at payroll tax issues and will audit up to 6,000 companies in 2010," he says. "409A is the next logical step."
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Irs Offers Correction Path for Deferred-Comp Errors
The Internal Revenue Service has delivered a belated but welcome bit of news to compensation committees and corporate tax departments: a correction program to let companies fix errors in their deferred-compensation plans, so those plans can be brought into compliance with Section 409A of the tax cod...
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