The Latest From IRS On Section 409A Relief

Law360, New York (January 12, 2018, 10:30 AM EST) -- On Dec. 8, 2017, the Internal Revenue Service released Notice 2017-75 which provides limited relief from Section 409A of the Internal Revenue Code for tax payment distributions from a code Section 457A nonqualified deferred compensation arrangement (a 457A plan). Taxpayers, who are required under code Section 457A to include the value of their 457A plan benefit in income before receiving a distribution from the 457A plan, may find out that they have an unexpected tax hit without a plan distribution to cover the tax liability. The...
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