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On August 21, 2018, the Internal Revenue Service (IRS) and the Department of the Treasury issued guidance on the recent amendments to Section 162(m) of the Internal Revenue Code that were made by the Tax Cuts and Jobs Act of 2017. This Client Alert summarizes this guidance which primarily addressed the grandfather rule for compensation payable under written binding contracts in effect November 2, 2017, as well as how covered employees will be identified under the amendments. The Client Alert also includes a flow chart to help determine if, and to what extent, the grandfather rule is available.
Click here to download the Client Alert (PDF) Comments are closed.
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