IRS Issues Final Regulations on the Excise Tax Imposed on Executive Compensation Arrangements of Tax-Exempt Organizations | Hodgson Russ LLP
To embed, copy and paste the code into your website or blog: On January 19, 2021, the Treasury Department and Internal Revenue Service issued final regulations under Code Section 4960 (“Final Regulations”), which impose a 21% excise tax on applicable tax-exempt organizations (“ATEO”) that pay remuneration to covered employees in excess of $1 million or provide excess parachute payments. The Final Regulations do not depart significantly from the proposed regulations issued in June, 2020,...
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Source: jdsupra.com