In June 2015, the Internal Revenue Service released updated audit guidelines for nonqualified deferred compensation plans. Basically, audit guidelines are used by the IRS to communicate with the ...

Under the economic benefit income tax theory, an employee is taxed when the employee receives something other than cash that has a determinable, present economic value. The danger, in the nonqualified ...

Deferred compensation plans allow you to offer employees income spread out over the future in exchange for their work today. Retirement plans that you contribute to on behalf of your employees are a ...

Generally, the inclusion of gross income (the first step in the computation of taxable income) must be determined pursuant to the taxpayer’s regular method of accounting. 1 The two commonly accepted ...

In April 2007, the IRS issued final regulations under section 409A pertaining to nonqualified deferred compensation (NQDC) plans. The regulations represent a culmination of efforts to bring uniformity ...

We had a reader reach out to us concerning farmer’s constructive receipt of grain sales. Here are his comments: “Please address the proper way to execute deferred payment contracts. I have several ...

Deferred compensation allows individuals to delay receiving part of their income until a future date, often during retirement. This strategy is appealing for retirement savings and tax management, as ...