Final $1 Million Pay Cap Regs: Do You Know Who Your Covered Employees Are?

Final Section 162(m) regulations published in December 2020 are largely the same as the proposed regulations from the prior year; but some key variations exist. Read this four-step article from Crowell & Moring attorneys and learn how to mitigate any surprises from the new rule.

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Related Content

• Deductibility of Executive Compensation for C Corporations
  Discover more about Section 162(m) by reading this practice note which explains how I.R.C. Section 162(m) operates after the Tax Cuts and Jobs Act. It also reviews the general rules regarding deductions for reasonable compensation and their limitations. The practice note explains the definition of a publicly held corporation and the definition of a “covered employee.” It also discusses the revisions made in the commission and performance-based compensation rules.
• Taxation Overview: C Corporations
  Read this practice note which provides an overview of the taxation of C corporations, including a review of the advantages and disadvantages of doing business as a C corporation, information about calculating corporate income tax, the corporate tax rates, possible tax credits, tax liabilities, accounting considerations, and certain limitations on tax deductibility, such as Section 162(m)’s limitation on the deductibility of executive compensation for public companies.

Practical Guidance Updates
Featuring the latest updates in Practical Guidance.

• IRS Pushes Back Start of Filing Season to Feb. 12
• Consolidated Appropriations Act, 2021: An Analysis
• 5 Noteworthy Tax Items in the COVID-19 Relief Law
• Employee Benefit Provisions of the Consolidated Appropriations Act, 2021
• Fed Tax Regs to Watch in 2021
• International Tax Cases to Watch in 2021

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