Section 280G & 4999 of the Internal Revenue Code
The “Golden Parachute” is a term used to describe executive severance payments that result from a change in control at the employee’s workplace. These payments are regulated by Section 280G of the Internal Revenue Code (IRC). The “Golden Parachute” provision imposes a 20% tax on payments that surpass limits set forth by the IRC. Sidney L. Gold & Associates carefully prepare, analyze, and negotiate necessary changes that must be made to existing change in control and severance packages to make certain that their clients are not being taxed excessively or unnecessarily. Tax and accounting professionals are available to the firm when needed and are often consulted with by our lawyers.
For more information on Section 280G & 4999 of the Internal Revenue Code, call the Philadelphia employment law firm of Sidney L. Gold & Associates at 215-569-1999, or complete our online contact form.