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- Title
IRS Proposes to Update the Section 162(m) Regulations.
- Authors
Schneider, Paul J.
- Abstract
IRC Code Section 162(m) imposes a $1 million limit on the amount of compensation paid to a covered employee that publicly held corporations can deduct as a business expense. Congress decided in 2017 that it was time to expand the scope of Section 162(m) and to limit the exclusion for performance-based compensation, effective for tax years beginning after December 31, 2017. The Internal Revenue Service's initial guidance with respect to the amended Section 162(m) was set forth in Notice 2018-68. A year later, proposed regulations have now replaced and expanded upon that initial guidance.
- Subjects
UNITED States. Internal Revenue Service; PUBLIC companies; OPERATING costs; INTERNAL revenue
- Publication
Journal of Financial Service Professionals, 2020, Vol 74, Issue 3, p22
- ISSN
1537-1816
- Publication type
Article