162(m) - Have the Rules Changed for Termination Payments and Performance-Based Compensation

ABA JOINT COMMITTEE ON EMPLOYEE BENEFITS  • DATE: March 18, 2008
SPONSORS: The Sections of Business Law, Health Law, Labor and Employment Law, Real Property, Trust and Estate Law, Taxation, and Tort Trial and Insurance Practice; And the American College of Employee Benefits Counsel

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A 90-minute TeleConference/Live Audio Webcast
Tuesday, March 18, 2008
1:00 pm - 2:30 pm ET / 12:00 pm - 1:30 pm CT / 11:00 am -12:30 pm MT / 10:00 am - 11:30 am PT

PLR 200804004, which caught practitioners and corporate taxpayers by surprise, has raised questions regarding the deductibility of certain termination payment provisions commonly found in plans intended to qualify as performance based compensation under Section 162(m). This uncertainty also creates thorny disclosure and financial accounting issues. Our panelists will discuss:

  • The latest from the IRS on the applicability of PLR 200804004 to existing and future arrangements
  • FIN 48 and the potential impact of the PLR on a company''s financial statements
  • Proxy disclosure issues arising from the PLR
  • How should these arrangements be structured going forward?

    Moderator: Martha N. Steinman, Dewey & LeBoeuf LLP, New York, NY

    Panelists: Chester Abell, Ernst & Young, Washington, DC; Kenneth Griffin, Senior Technician Reviewer, Executive Compensation Branch, TEGE Counsel, Internal Revenue Service, US Department of the Treasury, Washington, DC; Paul Wessel, Milbank, Tweed, Hadley & McCloy LLP, New York, NY
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    162(m) - Have the Rules Changed for Termination Payments and Performance-Based Compensation?
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