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  • This blog is made available by the law firm of Dickinson, Mackaman, Tyler & Hagen, P.C. for educational purposes only. It is intended to provide general information and a general understanding of the law, but not specific legal advice. This blog should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. Use of this blog does not create an attorney-client relationship between you and Dickinson, Mackaman, Tyler & Hagen, P.C. or any of its attorneys. The content of this blog is not an advertisement for legal services, nor is it an invitation to form an attorney-client relationship. Statements made in this blog are the viewpoints of the individual authors, and do not necessarily reflect the views of Dickinson, Mackaman, Tyler & Hagen, P.C. or any of its clients. Although this blog may address certain tax issues, it is not intended to constitute a reliance opinion as described in IRS Circular 230 and, therefore, cannot be relied upon by itself to avoid any tax penalties.

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Monday, September 17, 2007

Avoiding Adverse Tax Consequences by Meeting Section 490A Compliance Deadlines

In April 2007, The IRS issued final regualations regarding the application of Internal Revenue Code Section 409A to plans and arrangements involving nonqualified deferred compensation plans.  Such plans include provisions found in various employment-related documents.

The IRS announced on September 10, 2007, that it had extended the deadline for adoption of plan documents that comply with Section 409A from December 31, 2007 to December 31, 2008.  Although this additional time to complete documentation provides welcome relief, it should be emphasized that some issues remain subject to the December 31, 2007 deadline.

The full article on this topic is available here, in the Community Bank Brief, a periodic newsletter from the Banking Practice Group of Dickinson Mackaman Tyler & Hagen, P.C.

If you have any questions, contact Rebecca Boyd Dublinske or Arthur F. Owens.

Posted at 12:59 PM |

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