• American Jobs Creation Act Of 2004 -- Deferred Compensation Provisions
  • February 5, 2005 | Author: Frederick D. Lipman
  • Law Firm: Blank Rome LLP - Philadelphia Office
  • The American Jobs Creation Act of 2004 requires you to take immediate action to prevent your directors, officers and other employees from paying a 55% federal income tax (plus interest) on their deferred compensation. You must take immediate action to gather and review all plans, contracts or other arrangements which might involve the deferral of compensation as defined in the new law, and, if necessary, amend them prior to December 31, 2005 to bring them into compliance.