• 409A Audits by IRS Begin: Employers Need to Act Now
  • March 11, 2010
  • Law Firm: Kaye Scholer LLP - New York Office
  • The Internal Revenue Service (“IRS”) recently undertook an audit program for compliance with Section 409A of the Internal Revenue Code (“Section 409A”) that is to reach at least 6,000 employers in 2010 and 2011. Given the effort that most companies have expended over the last four years to comply with Section 409A, one might have thought that compliance would now be a foregone conclusion, and the audits little more than a nuisance. Unfortunately, the IRS’ recent unveiling of two correction programs (for operational and documentary errors