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Category Archives: Tax Reform

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Final Regulations on Executive Compensation Excise Tax (Section 4960) Carries Forward Most Concepts from Proposal

By Amanda H. Nussbaum, James Huffman, Katrine Magas and Seth Safra on Posted in Executive Compensation, IRS, Tax Reform, Tax-Exempt Organizations
On January 19, 2021 the Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) published in the Federal Register Final Regulations (the “Final Regulations”) interpreting the excise tax under Section 4960 of the Internal Revenue Code on certain executive compensation paid by tax-exempt organizations. The Final Regulations maintain most of the concepts from … Continue Reading

10 Keys to Excise Tax on Executive Compensation Paid by Tax-Exempt Organizations

By Seth Safra, Amanda H. Nussbaum, Katrine Magas and James Huffman on Posted in Executive Compensation, IRS, Not-for-Profit, Tax Reform, Tax-Exempt Organizations
Proposed Regulations under Section 4960 of the Internal Revenue Code provide important guidance for tax-exempt organizations and their affiliates regarding an excise tax on certain executive compensation.  The U.S. Department of the Treasury (“Treasury”) and Internal Revenue Service (the “IRS”) are accepting comments until August 10, 2020.  (Throughout this post, “Sections” refer to sections of … Continue Reading

Proposed Regulations on UBTI Provide Guidance to Tax-Exempt Organizations Making Fund Investments

By Jeremy Naylor, Amanda H. Nussbaum and Brianna Reed on Posted in Not-for-Profit, Tax Reform, Tax-Exempt Organizations
On April 23, 2020, the Treasury Department and the Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) under Section 512(a)(6) of the Internal Revenue Code (the “Code”).  Section 512(a)(6) was enacted as part of the 2017 Tax Cut and Jobs Act (the “TCJA”) and requires exempt organizations (including individual retirement accounts) to … Continue Reading

Five Excise Tax Tips For Tax-Exempt Employers

By Seth Safra, David Miller, Amanda H. Nussbaum, Steven Weinstein and Damian A. Myers on Posted in Executive Compensation, Not-for-Profit, Tax Reform, Tax-Exempt Organizations
As we have previously discussed, the 2017 tax reform act created a new excise tax under section 4960 of the Internal Revenue Code that will affect many tax-exempt employers.  The tax is 21% of certain compensation and can be triggered if an employee receives more than $1 million of compensation or an employee receives certain … Continue Reading
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