Employee Fringe Benefits and Sect. 409A Deferred Compensation: Tax Issues

Evaluating Exclusions or Potential Federal Taxability

Recording of a 110-minute CPE webinar with Q&A

Conducted on Wednesday, June 12, 2013

Recorded event now available

or call 1-800-926-7926
Program Materials

This teleconference will offer advisors a review of Internal Revenue Code provisions and IRS guidance regarding taxability of various employee fringe benefits. The panel will provide an overview of Sect. 409A nonqualified deferred compensation concepts applicable to employee and/or employer tax liability.

Description

Before implementing a new employee fringe benefit or any form of nonqualified deferred compensation under Sect. 409A, a company's accounting advisors must outline its federal tax ramifications. Employees owe income taxes on the benefit, but an employer can be liable for non-withheld penalties, plus interest.

As the IRS continues to ramp up employment tax audits, advisors must stay familiar with which fringe benefits qualify for the "working condition" exclusion or other exclusions, and which are taxable. For example, certain employee awards and executive life insurance over $50,000 are taxable.

Nonqualified options and phantom stock plans create a host of complex issues with change in control, severance payments, IRS correction programs, etc. Navigating Sect. 409A and the latest IRS guidance are critical in anticipating tax ramifications of all benefits decisions.

Listen as our panel of experienced advisors provides a solid grounding in the federal tax aspects of fringe benefits and Sect. 409A nonqualified deferred compensation awards, affecting both individual execs and employees, as well as the employer.

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Outline

  1. Categories of employee fringe benefits qualifying for a federal tax exclusion
  2. Fringe benefits that can result in a tax bill
  3. Situations in which an employer may be liable for fringe benefit withholding
  4. Material terms of Sect. 409A regarding taxability

Benefits

The panel will analyze issues such as:

  • Fringe benefits and benefit plans that qualify for a federal tax exclusion.
  • Benefits and compensation that may be taxable unless managed correctly.
  • Challenging aspects of Sect. 409A that influence potential taxability.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Tara Silver-Malyska
Tara Silver-Malyska
Tax Principal
UHY Advisors

She leads the firm’s Employee Benefits/ERISA Tax Practice in the Dallas office. She is an attorney and has 17...  |  Read More

James Davis
James Davis
Shareholder and Chairman, Tax Practice Group
Gunster

His practice covers ERISA and employee benefit law, taxation, corporation and business law, and estate planning.

 |  Read More
Stefan Smith
Stefan Smith
Partner
Locke Lord

In his practice, he works with clients on continued compliance of tax-qualified defined contribution and defined...  |  Read More

Cynthia A. Moore
Cynthia A. Moore
Member
Dickinson Wright

She is a national expert on fringe benefits plans and counsels companies and their compensation committees on the tax,...  |  Read More

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