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Treasury/IRS Issue Rules Implementing EESA Restrictions on Executive Compensation on Institutions Participating in the Troubled Asset Relief Program
October 20, 2008 Read the memo
As highlighted in our various alerts, the recently enacted legislative and regulatory responses to the financial crisis in the United States include important provisions affecting executive compensation at participating institutions. These provisions prohibit certain types of compensation arrangements altogether, deny employer tax deductions for certain kinds and amounts of payments and, in certain circumstances, impose penalty taxes on the executives who themselves receive certain payments.