IRS Proposes Changes to Employee Remuneration Deductions

Summary

The Internal Revenue Service (IRS) has proposed amendments to the regulations under section 162(m) of the Internal Revenue Code of 1986, which will disallow deductions for employee remuneration exceeding $1,000,000, affecting taxpayers complying with the section 162(m) rules added by the Omnibus Budget Reconciliation Act of 1993.