N-2017-75: Guidance Under Section 409A for Pre-2009 Section 457A Deferrals
Internal Revenue Service (IRS) sent this bulletin at 12/08/2017 10:53 AM EST
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Issue Number: N-2017-75Inside This IssueNotice 2017-75 provides guidance on the application of §§ 409A and 457A. Specifically, this guidance addresses the transition provisions enacted as part of § 457A that generally provide that amounts deferred and attributable to services before January 1, 2009, that would otherwise have been subject to inclusion in income under § 457A, are includible in gross income in the later of the last taxable year beginning before 2018 or the date of vesting. This notice provides that service recipients may accelerate distributions to pay federal and state taxes on amounts includible in 2017 and after without violating § 409A. Notice 2017-75 will be in IRB 2017-52, dated December 26, 2017. Thank you for subscribing to IRS GuideWire, an IRS e-mail service. If you are a Tax Professional and have a specific concern about your tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the IRS GuideWire mailing list. Please Do Not Reply To This Message. |