On October 22, 2007, the Internal Revenue Service ("IRS") issued Notice 2007-86, which generally extends until December 31, 2008, the transition relief for documentary compliance with Internal Revenue Code ("Code") Section 409A. The new relief goes well beyond that provided on September 10, 2007, under Notice 2007-78. Additionally, on October 23, 2007, the IRS issued Notice 2007-89, providing guidance as to reporting and wage withholding under Code Section 409A. Most importantly, Notice 2007-89 reflects an extension to 2007 of guidance exempting Code Section 409A deferred compensation from reporting requirements.