Pub. 6 2024 Issue 3

The Internal Revenue Code (the Code) includes various provisions governing employee benefits and compensation arrangements. One such provision is Code Section 409A, which applies to nonqualified deferred compensation. Nonqualified deferred compensation is defined as “any [arrangement] that provides for the deferral of compensation. . . .” An arrangement provides for the deferral of compensation if a service provider (e.g., an employee) obtains a legally binding right to compensation in one taxable year that is, or may be, payable in a later taxable year.

“Pipeline” has become quite the buzzword throughout the profession. The work done thus far through AICPA’s National Pipeline Advisory Group (NPAG) and NASBA’s Professional Licensure Task Force, as well as within state CPA societies and other related organizations, has been thoughtful and inclusive. These evolving efforts aim to tackle the talent shortage and attract more people to a rewarding career in accounting. Although they differ, both initiatives focus on sustaining and improving the profession while creating long-lasting solutions to benefit future generations of accountants. At this time of great change and transformation, I am excited to be a part of NASBA’s State Society Relations Committee, where I am able to learn and share with some of the best and brightest who represent the CPA profession.