The continuing legislative, administrative, and judicial activity in the compensation taxation field has increased the breadth and complexity of the field, as well as the need for awareness of the legal aspects and practical considerations. Likewise, the need for current and comprehensive guidance with respect to compensation tax rules has increased. Accordingly, this edition provides up-to-date coverage of the federal tax laws concerning executive and employee compensation and benefits. Recent tax laws and pertinent regulations, administrative rulings, and case law are incorporated throughout.