CORPORATE DIRECTORS.

SEC. 9022. CORPORATE DIRECTORS. (a) Social Security Act Amendment.— Section 211(a) of the Social Security Act is amended by adding at the end thereof the following new paragraph: “Any income of an individual which results from or is attributable to the performance of services by such individual as a director of a corporation during any taxable year shall be deemed to have been derived (and received) by such individual in that year, at the time the services were performed, regardless of when the income is actually paid to or received by such individual (unless it was actually paid and received prior to that year).”. (b) SECA Amendment.— Section 1402(a) of the Internal Revenue Code of 1986 (relating to definition of net earnings from self-employment) is amended by adding at the end thereof the following new paragraph: “Any income of an individual which results from or is attributable to the performance of services by such individual as a director of a corporation during any taxable year shall be deemed to have been derived (and received) by such individual in that year, at the time the services were performed, regardless of when the income is actually paid to or received by such individual (unless it was actually paid and received prior to that year).”. (c) Effective Date.— The amendments made by this section shall apply with respect to services performed in taxable years beginning on or after January 1, 1988.