MARINA VISHNEPOLSKAYA, ESQ., P.C.

Providing sophisticated legal solutions
to address your corporate and tax
business needs.

Providing sophisticated legal solutions 
to address your corporate and tax 
business needs

Tax & Benefits Blog

Corporate Tax Proposals in House Ways and Means Committee Summary

Posted on September 13, 2021 at 5:05 PM

Introduction; Summary of Proposed Tax Reforms. On September 13, 2021, the Ways and Means Committee of the United States House of Representatives released a section-by-section summary (“Summary”) of revenue provisions accompanying a $3.5 trillion budget plan released by Senate Democrats on August 9, 2021.  The tax-increase provisions would be under Subtitle I of a forthcoming budget reconciliation bill that Congressional Democrats intend to approve witho...

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Overview of Proposed Carried Interest Regulations Under Code Section 1061

Posted on August 4, 2020 at 8:20 PM

Background


On July 31, 2020, Treasury and the IRS issued proposed regulations, REG-107213-18 ("Proposed Regulations") under section (“Section”) 1061 of the Internal Revenue Code of 1986, as amended (“Code”) regarding taxing gain from certain carried interests held less than three years as short term capital gain (“STCG”). Section 1061 was enacted under section 13309 of Pub. L. No. 115-97, 131 Stat. 2054 (2017) (the "Tax ...

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IRS Finds Section 409A Failures Based on Literal Construction of Treasury Regulations and Use of Informal Company Records in Chief Counsel Advice 201725027

Posted on June 30, 2017 at 2:15 PM

Introduction: IRS Chief Counsel Advice 201725027 (Mar. 6, 2017).  On March 6, 2017, the IRS issued Chief Counsel Advice 201725027 (“CCA”), released on June 23, 2017, advising Associate Chief Counsel that a certain nonqualified deferred compensation (“NQDC”) plan had document and operational failures and the deferrals under such plan were includible in income of the participant and subject to additional taxes under section 409A (“Section 409A̶...

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Correcting Nonqualified Deferred Compensation Plans Under Recently Proposed Regulations

Posted on February 28, 2017 at 12:05 AM

Proposed Section 409A Regulations. Marina's article, "Correcting Document Failures of Plans With Nonvested Deferred Compensation Under Proposed Section 409A Regulations" was published in the February 2017 issue of the BNA Tax Management Compensation Planning Journal (45 BNA Tax Mgmt. Comp. Plan. J. 69 (2017)). The article discusses how employers sponsoring certain executive compensation plans for th...

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May Employers Use an Involuntary Separation From Service Without Cause as a Substantial Risk of Forfeiture to Defer Executive Compensation?

Posted on May 15, 2014 at 10:00 PM

Background. Internal Revenue Code section (“Section") 83 provides rules for timing of inclusion in income of compensation consisting of restricted “property” payments, such as employer securities. Under Section 83, an equity-based award generally is not includible in income of the executive in the tax year of the grant if it is subject to a “substantial risk of forfeiture” (an “SRF"), or in other words, is nonvested. On the other hand, Section 457(f...

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