Nonqualified deferred compensation arrangements are commonplace among executives in the American workforce. These arrangements raise tax timing issues for our cash-basis accounting system. When should the compensation be determined to have been “constructively received” by the worker, and thus subject to taxation? Our policy on the issue was originally too lenient in the wake of…
Author: Joe Benedetto
Bankruptcy’s Automatic Stay: The Fine Line Between Passive Action and Inaction
Cases in the Seventh and Tenth Circuits are primed for Supreme Court review of the most recent circuit clash between debtors and creditors. Florence + The Machine sums up the classic conflict between debtors and creditors well: “And every demon wants his pound of flesh But I like to keep some things to myself” –…