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IRS Announces Section 409A Audit Initiative
Quarles & Brady LLP Link to more items from this source
May 21, 2014
"Section 409A created severe penalties for the service provider (i.e., the employee or director) ... [including] a 20% additional income tax, interest on underpaid taxes, and the acceleration of taxable income once the award is no longer subject to a substantial risk of forfeiture. Although the tax consequences apply to the employee or other service provider, companies will want to make sure that their deferred compensation arrangements comply because of potential related exposure, e.g., due to employee claims against the employer, employer withholding and reporting noncompliance, and the allocation of Code Section 409A risks/costs in future M&A or other transactions."

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