Internal Revenue Code section 4960 Archives

28 Jan 2019 |

Excise Tax on Nonprofits: Executive Compensation

Many tax-exempt organizations will now be required to pay an excise tax on any compensation over $1 million paid to each of their top five employees. That amount of compensation, including end-of-career parachute payments, may be subject to the corporate tax rate, which is currently 21 percent. Internal Revenue Code section 4960, enacted as part of the Tax Cuts and Jobs ... Read More

TAGGED: Tax Cuts and Jobs Act, Internal Revenue Code, Internal Revenue Code section 4960, Notice 2019-09, §4960