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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").
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
