The Democratic staff of the Senate Finance Committee has issued a report that calls nonqualified deferred compensation plans an unfair "tax avoidance" strategy and recommends ways to close "abusive loophole(s)" in the law.
The report also highlights other methods of "manipulating the timing of any taxes paid and minimizing the amount of tax that does get paid," and makes several suggestions it said will cut tax avoidance and will also make the tax code "fairer and simpler overall."
NQDC plans, however, are squarely in its sights.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
