Backdating tax dating service for people with mental illness
Lawyers who were trained in commonwealth jurisdictions may have an ingrained concept that backdating a document is generally improper, if not illegal.
This is reflected in the Linklaters article Execution of Documents: Five Common Questions Answered, which offers the following advice for in-house lawyers: “(i) contracts may only be backdated, absent fraud, in circumstances where an original form has been lost or where terms have been fully agreed but signatures have been left to a later date and (ii) deeds may never be backdated.” Unfortunately, the article offers scant authority, and a search on Google reveals little else on the subject from the commonwealth world.
Furthermore, the Directive states the special requirements apply regardless of whether the issue arises from error or was the result of deliberate actions.
If your partner was the lower earner, the person responsible for managing their tax affairs needs to phone.The Directive is significant, nonetheless, in that it signals a nationally coordinated effort within the IRS to target transactions involving backdated stock options, and also establishes mandatory audit requirements and centralized reporting procedures within the IRS as relating to backdated stock options.As noted below, the directive also signals the IRS's intention to pursue the issue against individuals who received such options.Does it matter if this effective date is prior to the date the parties actually entered into the agreement?And if so, is this ‘backdating’ problematic or even potentially illegal?