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Executive Compensation: Section 162(m) and the Grandfather Rule
Hawley Troxell
[Guidance Overview] Mar. 20, 2019 "If the company retains the right to unilaterally amend the plan to reduce or eliminate deferrals and/or accruals ... only the amounts deferred prior to January 1, 2018, would be excluded [from the $1,000,000 deduction limitation]. This becomes important because of the change under TCJA to the definition of 'covered employee,' from those employed in certain positions during the year to a 'once covered always covered' approach." MORE >> |
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