IRS Answers Many Questions on New 21% Executive Compensation Tax

Tax-exempt and certain governmental entities, as well as their for-profit entities, may need to pay an excise tax on executive compensation and parachute payments in excess of $1 million per Section 4960 of the Internal Revenue Code enacted by the Tax Cuts and Jobs Act (TCJA). Find out who’s affected, who’s responsible for payment and what it all means in this article written by BDO experts Norma Sharara, JD and Joan Vines, CPA that ran in BMSS’ Spring 2019 Nonprofit Newsflash.