Whenever the United States Congress takes up “tax reform,” there always is a danger that the Congress will pay for such tax reform, in part, by eliminating many of the tax incentives that enable employers to provide executives and rank-and-file employees with tax-favored benefits, or provide executives and others with the opportunity to defer compensation. After all, the two largest tax expenditures in the federal budget are for (1) employer-provided health insurance and (2) amounts “saved” for retirement under any form of tax-favored pension or profit-sharing plan or Individual Retirement Account (“IRA”).
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