House Passes Tax Bill without Nonqualified Deferred Compensation Changes

Article

On Thursday, November 16, 2017, by a vote of 227-205, the House of Representatives passed the Tax Cuts and Jobs Act, paving the way for further action by the Senate as they take up their own version of tax reform legislation.

Modified House Bill.  The final House version of the bill contains many of the significant changes to individual and corporate tax provisions outlined in the theHRBenefitsAuthority on November 8.  However, the final version of the bill notably removes the sweeping changes to nonqualified deferred compensation in the original bill.  The final House bill preserves current law and Section 409A.

Senate Bill.  The Senate continues to work through its version of the legislation.  Importantly, like the final version of the House bill, the current Senate bill also makes no changes to nonqualified deferred compensation plans. If the Senate also passes a bill, the bills will go to a Conference Committee to try to reach a compromise.  We will continue to monitor the progress of these bills closely and will update you on important developments.

Contact Information.  For more information, please contact Don Mazursky (404.888.8840), David Putnal (404.888.8836), Glenn Infinger (404.888.8845), Toby Walls (404.888.8870), Teri King (404.888.8847), Angela Roberts (404.888.8822),  Alex Smith (404.888.8839) or Chandra Burns (404.888.8834).

Media Contact

Public Relations Contact
Kate Lenders
Senior Marketing Manager
klenders@sgrlaw.com
312-360-6478

Jump to Page

Smith, Gambrell & Russell, LLP Cookie Preference Center

Your Privacy

When you visit our website, we use cookies on your browser to collect information. The information collected might relate to you, your preferences, or your device, and is mostly used to make the site work as you expect it to and to provide a more personalized web experience. For more information about how we use Cookies, please see our Privacy Policy.

Strictly Necessary Cookies

Always Active

Necessary cookies enable core functionality such as security, network management, and accessibility. These cookies may only be disabled by changing your browser settings, but this may affect how the website functions.

Functional Cookies

Always Active

Some functions of the site require remembering user choices, for example your cookie preference, or keyword search highlighting. These do not store any personal information.

Form Submissions

Always Active

When submitting your data, for example on a contact form or event registration, a cookie might be used to monitor the state of your submission across pages.

Performance Cookies

Performance cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.

Powered by Firmseek