Internal Revenue Code · 26 U.S.C.
§ 4999. Golden parachute payments
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 4999
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Added
- July 18, 1984 by Pub. L. 98–369
- Length
- 3 subsections · 139 words · about 1 min to read
- Defines
- 1 term
- Cross-references
- cites 3; cited by 1 Code section and 1 other regulation
There is hereby imposed on any person who receives an excess parachute payment a tax equal to 20 percent of the amount of such payment.
For purposes of this section, the term “excess parachute payment” has the meaning given to such term by section 280G(b).
In the case of any excess parachute payment which is wages (within the meaning of section 3401) the amount deducted and withheld under section 3402 shall be increased by the amount of the tax imposed by this section on such payment.
For purposes of subtitle F, any tax imposed by this section shall be treated as a tax imposed by subtitle A.
(Added Pub. L. 98–369, div. A, title I, § 67(b)(1), July 18, 1984, 98 Stat. 587.)
Terms defined here
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Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 3 other sections
Cited by 1 Code section
Cited in 1 regulation not issued under it
Amendment history
From the source credit and the official notes, newest first.
- Added by Pub. L. 98–369
Where it sits in the Code
Official notes
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Statutory Notes and Related Subsidiaries
Effective Date
Section applicable to payments under agreements entered into or renewed after June 14, 1984, in taxable years ending after such date, with contracts entered into before June 15, 1984, which are amended after June 14, 1984, in any significant relevant aspect to be treated as a contract entered into after June 14, 1984, see section 67(e) of Pub. L. 98–369, set out as a note under section 280G of this title.