### Question
What does specified individual mean?


### Answer
**Specified individual** has the following meaning in *26 U.S.C. § 274*:

> any individual who—


(I) is subject to the requirements of section 16(a) of the Securities Exchange Act of 1934 with respect to the taxpayer or a related party to the taxpayer, or


(II) would be subject to such requirements if the taxpayer (or such related party) were an issuer of equity securities referred to in such section

#### Citation:
  - *26 U.S.C. § 274*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART IX-ITEMS NOT DEDUCTIBLE**

