IRS Proposes Rules Under Section 457 for Deferred Compensation Arrangements Maintained by Tax Exempt Organizations | Practical Law
The Internal Revenue Service (IRS) issued proposed regulations prescribing rules under Section 457 of the Internal Revenue Code for the taxation of compensation deferred under plans established and maintained by state or local governments or other tax exempt organizations. These proposed regulations include rules for determining when amounts deferred under these plans are includible in income and the types of plans that are not subject to these rules.