IRS Clarifies CFOs Excluded from Code Section 162(m)'s Covered Employees (June 21, 2007)

This Client Alert summarizes the Internal Revenue Service's Notice 2007-49, which clarifies that the IRS will exclude CFOs from being "Covered Employees" for purposes of Code Section 162(m), issued June 5, 2007. This clarification is necessary given the recent changes the U.S. Securities and Exchange Commission made to the compensation disclosure rules.

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