• IRS Releases Guidance on Section 409A Transition Rules
  • March 20, 2005 | Authors: Micah W. Bloomfield; Dmitriy Shamrakov
  • Law Firm: Stroock & Stroock & Lavan LLP - New York Office
  • Last year, as part of the American Jobs Creation Act of 2004, Congress acted to rein in improper deferrals of income under certain deferred compensation arrangements by adding Section 409A to the Internal Revenue Code of 1986 (the "Code"). Congressional concern centered on the ability of executives to defer significant amounts of income without giving up either control over the amounts deferred or security for eventual repayment of such amounts.