• Nonqualified Deferred Compensation Guidance Issued: IRS Notice 2005-1
  • January 15, 2005
  • Law Firm: Duane Morris LLP - Philadelphia Office
  • On December 20, 2004, the Internal Revenue Service released initial guidance on the nonqualified deferred compensation provisions of the American Job Creation Act of 2004, which added new Section 409A to the Internal Revenue Code. The guidance, which appears in IRS Notice 2005-1 and is presented in Q&A format, addresses many outstanding issues, including the following: