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Rev. Proc. 2003-68 on Valuation of Stock Options for Purposes of Code Sections 280G, 4999 (PDF)
Internal Revenue Service [IRS]
[Official Guidance] Aug. 1, 2003
13 pages. Excerpt: This revenue procedure restates and modifies Revenue Procedure 2002-13 ... Section 280G denies a deduction for any excess parachute payment. Section 4999 imposes a nondeductible 20-percent excise tax on the recipient of any excess parachute payment, within the meaning of § 280G(b).
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