IRS releases Priority Guidance Plan

Last week the IRS released its 2011-2012 Priority Guidance Plan, detailing the areas it will focus on in its work year that began July 1. There aren't any surprises or new items of significance to key employee compensation.  It is nice to see that final regulations on §125 cafeteria plans and §457(f) deferred compensation regulations remain on the list. Maybe five years will be sufficient to finish the §457(f) regulations.