House Tax Bill Would Gut Deferred Compensation Plans and Curtail Executive Pay Deductions

By Andrew Liazos and William R. Pomierski on November 7, 2017

Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Employment, Executive Compensation, Health and Welfare Plans

The US House of Representatives Committee on Ways and Means proposed Tax Cuts and Jobs Act intends to reduce corporate and individual tax rates. To pay for the proposed changes, the House Tax Bill would, if enacted, negatively impact long-standing current executive compensation practices.

Tags: House Tax Bill, Internal Revenue Code, Internal Revenue Code Section 162(m), IPO, Phantom Stock, Proposed Tax Cuts and Jobs Act, Section 409B, Stock Units, Summary Compensation Table, US House of Representatives Committee on Ways and Means

Andrew Liazos
Andrew C. Liazos is the global chair of McDermott’s Benefits & Compensation Practice Group and has practiced at McDermott for over 25 years. Andrew focuses his practice on compensation and benefit matters, including related securities, M&A, IPO, private equity, international and litigation matters. Clients range from Fortune 500 companies to compensation committees to individual executives in employment and severance negotiations. Read Andrew Liazos' full bio.

William R. Pomierski
William (Bill) R. Pomierski focuses his practice on the taxation of financial products and capital markets transactions, as well as on executive compensation matters. He is a former chair of the Firm’s Executive Compensation Practice Group. Bill advises clients on the federal income tax implications of a variety of domestic, cross-border and global financial products and related transactions. Read William Pomierski's full bio.

House Tax Bill Would Gut Deferred Compensation Plans and Curtail Executive Pay Deductions

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