The field of taxation of employee and executive compensation is complex, dynamic and ever-changing. CCH"s U.S. Master Compensation Tax Guide unravels the complexity and explains in clear and concise language this critical area, providing practical and comprehensive guidance. The Guide covers the complicated compensation tax topic in a comprehensive yet practical, straightforward fashion that readers value and appreciate. The U.S. Master Compensation Tax Guide fills a void left by other works on executive and employee compensation, which primarily cover qualified plans and deferred compensation, by covering all of the common forms of compensation including salary, bonuses, fringe benefits (e.g., health and accident plans and cafeteria plans), qualified deferred compensation (e.g., pensions and profit-sharing plans), and nonqualified deferred compensation (e.g., rabbi trusts and restricted stock plans). The Guide is divided into five main sections: (1) Overview of Compensation Taxation (2) Current Compensation (3) Employee Fringe Benefits (4) Qualified Deferred Compensation (5) Nonqualified Deferred Compensation This 2008 edition has been updated to reflect the follow developments occurring in the past year: Comprehensive revision of the regulations under Code Sec. 415 on benefit and contribution limits, including certain changes made by PPA06; Final regulations pertaining to Code Sec. 403(b) tax-sheltered annuity plans; Final regulations addressing normal retirement age, and revisions to Reg. Sec 1.401(a)-1(b) concerning the treatment of pre-retirement distributions that take into account Code Sec 401(a)(36) enacted by PPA06; **Amendments to final regulations concerning Code Sec. 9802, relating to the prohibition against discrimination by a group health plan based on the health status of a new employee enrolling in an employer s group health plan; **Final regulations under Code Sec.409A requirements for nonqualified deferred compensation plans, which provide more flexibility for stock rights and clarify issued in the 2006 proposed regulations, as well as Notices 2007-86 (postponing the effective date of the final regulations) and 2007-89 (concerning reporting and withholding rules for 2007); **Final regulations providing guidance concerning the taxation of distributions from designated Roth 401(k) plans and coordination with Roth IRAs; **Proposed regulations under Code Secs. 430(f) and 436 pertaining to certain limitations on benefits for underfunded, single-employer defined benefit pension plans; **Proposed comprehensive regulations under Code Sec. 125 relating to cafeteria plans; **Various IRS rulings, notices, and other pronouncements including those that (a) clarify the application of certain changes made by PPA06 to the deduction limits for defined benefit plan contributions, (2) modify the Code Sec. 401(k) hardship distribution rules permitting plans to treat domestic partners the same as a participant s spouse in determining whether the participant has incurred an hardship or unforeseeable financial emergency, and (3) establish a rebuttable presumption of partial termination at least 20 percent of participants are terminated due to an employer-initiated shutdown; **The 2008 cost-of-living adjustments for qualified plans and IRAs; and **The 2007 reversal of the D.C. Circuit Court s 2006 decision in favor of the taxpayer in Marrita Murphy, et al vs. U.S., an important case concerning the tax treatment of damage awards paid to former employees.