Executive Benefits: New IRS Guidance on Excise Tax

February 19, 2019 | 2:00pm - 3:00pm ET

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About the Webinar

The excise tax on executive compensation was introduced with the 2018 Tax Cuts and Jobs Act. A year later, on December 31, 2018, the IRS and Treasury released their much-awaited excise tax guidance for executive compensation. This webinar walks through the guidance and what credit unions must now do to comply.

To prepare for the webinar, learn more about the background on excise tax, “Tax Cuts and Jobs Act: Impact on Credit Union Executive Compensation.”

About the Presenter

James Patterson, Partner at Sherman & Patterson

Jim is a partner with Sherman & Patterson, a national law firm focusing in the area of tax, nonqualified deferred compensation (e.g. 409A and 457(f)) and employee benefits. Jim has worked closely with the state credit union regulators in the 47 states that have state credit union charters, as well as with regulators at the National Credit Union Administration.

Jim has drafted numerous split dollar plans, SERPs, and other nonqualified deferred compensation agreements and welfare benefit plans. After Congress passed 409A and the IRS published 409A regulations, Jim focused significant time in updating deferred compensation arrangements to comply with those new rules. Jim’s practice also includes drafting employment agreements and severance plans that integrate nonqualified deferred compensation concepts with other issues relating to an individual’s employment. Jim is a resource to the NCUA and recently conducted split dollar training for NCUA examiners.