CONCORD, NH — Attorney Dodd Griffith, a business lawyer with a background in corporate, tax, securities and real estate law at Gallagher, Callahan and Gartrell, presented recently at the Annual Tax Forum sponsored by the New Hampshire Society of CPAs and the New Hampshire Bar Association on correcting deferred compensation plan violations.
He covered the types of deferred compensation
that are subject to the IRC 409A rules, common errors of noncompliance,
and the penalties for failing to comply. He reviewed the IRC
409A self-correction program guidance offered by the IRS, and the
current audit guidelines. Griffith along with
Kenneth Wolfe, a CPA with Nathan Wechsler & Co., have co-authored an in-depth, 48-page guide to Section
409A and the 409A Rules. The guide can be downloaded at the following
link: Correcting Operational and Document Failures to Comply with IRC Section 409A.