Miller Chevalier
From CFO Zone
March 3, 2010

Please see our Hot Topics for more on the IRC's Rule 457A.

Ropes & Gray
January 14, 2010

Please see also our Hot Topics for more on carried interests.

Please see our Hot Topics for more on the IRC's Rule 457A.

Haynes and Boone
From Financier Worldwide
August 13, 2009

Please see our Hot Topics for more on the IRC's Rule 457A.

Proskauer Rose
June 2009

Please see our Hot Topics for more on this subject.

Seyfarth Shaw
June 18, 2009

Please see our Hot Topics for more on this subject.

Paul Weiss
June 16, 2009

Please see our Hot Topics for more on this subject.

McGuireWoods
June 5, 2009

Please see our Hot Topics for more on this subject.

Shearman & Sterling
May 4, 2009

Please see our Hot Topics for more on this subject.

Baker & McKenzie
March 2009

Please see our Hot Topics for more on this subject.

Haynes & Boone
February 27, 2009

Please see our Hot Topics for more on this subject.

Morgan Lewis
February 12, 2009

Please see our Hot Topics for more on this subject.

Faegre & Benson
February 10, 2009

Pillsbury
January 29, 2009

Akin Gump
February 3, 2009

Drinker Biddle
Hedge Fund Alert
January 26, 2009

Covington
January 29, 2009

Skadden
January 21, 2009

Cadwalader
January 16, 2009

Mintz Levin
Employee Benefits Alert
January 14, 2009

Sidley Austin
January 13, 2009

Debevoise & Plimpton
January 14, 2009
This Update reviews the IRS’s January 8, 2009 guidance on how it intends to apply the new Section 457A (which provides that deferred compensation payable to U.S. taxpayers by “nonqualified entities” is generally taxable when that compensation is no longer subject to a “substantial risk of forfeiture”) and advises non- U.S. companies, partnerships (whether U.S. or non-U.S.) and managers that pay or receive deferred compensation: (i) to assess whether or not they are a “nonqualified entity,” (ii) if they are, to identify arrangements that may be covered by Section 457A and (iii) to make the changes necessary to avoid the Section 457A penalties.

Please see our Hot Topics ...

Ropes & Gray
January 12, 2009

McDermott Will & Emery
January 9, 2009
This Alert covers the IRS’s January 8, 2009 guidance on the implementation of its new Section 457A (457A generally provides that amounts deferred under a nonqualified deferred compensation plan sponsored by certain foreign and other “nonqualified” entities  is taxable upon vesting).  The guidance covers:

• What types of deferred compensation arrangements will be subject to Section 457A;
• How to identify a plan sponsor and whether a sponsor is a "nonqualified entity" subject to Section 457A;
• Clarification of vesting rules and the potential availability of a short-term deferral exception for amounts paid within one year of vesting; and
• Clarification on compensation attribution rules; important as compensation ...

Sidley Austin
December 12, 2008

Mayer Brown
December 10, 2008

Please see our Hot Topics for more on this subject.

Gibson, Dunn & Crutcher
December 3, 2008

Katten
November 11, 2008
This Advisory points out a critical (but limited) tax deferral opportunity for offshore funds that are otherwise having their ability to defer receipt of fees from offshore funds eliminated by amended Section 457A of the Internal Revenue Code. As the Advisory notes, “[U]nder a special transition rule in place under Section 409A of the Code, the timing of payments of existing deferrals can be broadly changed prior to December 31, 2008, so long as (i) the existing deferral being changed would not otherwise be paid during 2008, and (ii) an existing deferral is not being accelerated for payment in 2008 from a later year.”

O’Melveny & Myers
November 12, 2008

Gibson, Dunn & Crutcher
October 30, 2008

Cleary Gottlieb
November 3, 2008

Greenberg Traurig
Client Alert
October 7, 2008
This Alert looks at a provision of the Emergency Economic Stabilization Act of 2008 that will bring to an end the deferral of income earned from off-shore hedge funds by U.S. fund managers. It is a comprehensive piece which describes for the lay person on up how income deferral at off-shore funds works, congressional reaction to the enormous amounts of income deferred by hedge funds, and how the new provision in Section 457A of the Internal Revenue Code will work.

Debevoise & Plimpton
Client Update
October 6, 2008
This Update looks at a provision in the Emergency Economic Stabilization Act of 2008 which is designed to target management and incentive fee deferral arrangements entered into by certain hedge funds, but may in fact have implications for more traditional deferred income arrangements.

Akin Gump
Tax Alert
October 3, 2008
This Alert examines new Section 457A to the Internal Revenue Code (enacted as part of the Emergency Economic Stabilization Act of 2008) which imposes significant restrictions on techniques commonly used by managers of offshore hedge funds to defer fee income.