Curriculum Guide · Courses

Professors Brown, Klepper, Morrison & Tackney

LL.M Seminar 855 | 2 credit hours

This class will focus on the tax aspects associated with nonqualified deferred compensation, with primary focus on Section 409A of the Internal Revenue Code. The class will set the stage for section 409A with a close examination of the constructive receipt and economic benefit doctrines which pre-date section 409A and maintain their prior relevance. Some attention also will be given to the income tax regimes set forth in section 457A (governing U.S. individual income taxation of deferred compensation for certain foreign-based employees) and section 457(f) (for employees of tax exempt entities), as well as to employment taxes under section 3121(v) and the basic tax deduction treatment for employers. The impact of ERISA on nonqualified deferred compensation also will be addressed. This class will focus not only on the various rules and administrative procedures, but will examine their underlying policies to put the rules into context. Numerous examples will be discussed to highlight the practical aspects of compliance. The class will culminate with an in-class final exam.