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Executive Compensation Tax Exemptions Internal Revenue Service

Proskauer - Employee Benefits & Executive...

A Trap for the Unwary – Nonprofit Organization Compensation Arrangement Considerations for High Caliber Executives

Like any for-profit company, nonprofit organizations want to attract and retain high caliber executives to achieve and further their missions. To accomplish this, a nonprofit organization may have to offer a particularly...more

Rivkin Radler LLP

Activities Contrary to Public Policy – Revoking the Tax Exempt Status of Universities

Rivkin Radler LLP on

It appears that many of the country’s colleges and universities believe they have not already contributed enough to the decline of American education and to the erosion of our society, generally. These institutions of...more

Rivkin Radler LLP

Hospital As Educational Organization? The Mayo Clinic’s UBIT Refund Claim

Rivkin Radler LLP on

Like Peas in a Pod? What do private, not-for-profit colleges and hospitals have in common? There are quite a few items that come immediately to mind: •They may qualify for exemption from federal income tax. •Tax-exempt...more

Proskauer - Not for Profit/Exempt...

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

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...more

Proskauer - Not for Profit/Exempt...

10 Keys to Excise Tax on Executive Compensation Paid by 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...more

Proskauer - Employee Benefits & Executive...

New Excise Tax For Tax-Exempts Can Ensnare For-Profit Employers: Comment Deadline Fast Approaching

As discussed, the IRS’s initial interpretation of a new excise tax under Section 4960 of the Internal Revenue Code could catch for-profit employers who set up foundations, trusts, PACs, and other tax-exempt entities off...more

Holland & Knight LLP

IRS Notice Provides Guidance for Exempt Organizations on Excise Tax

Holland & Knight LLP on

• The Internal Revenue Service (IRS) released IRS Notice 2019-09 (Notice) offering guidance under Section 4960 of the Internal Revenue Code as added by the Tax Cuts and Jobs Act. • Section 4960 applies to certain...more

Seyfarth Shaw LLP

Good News / Bad News: The IRS has Released Interim Guidance Regarding the New Excess Compensation Excise Tax Applicable to...

Seyfarth Shaw LLP on

Just in time for the New Year and notwithstanding the government shutdown, on December 31, 2018, the Internal Revenue Service (“IRS”) issued Notice 2019-09 (the “Notice”), which provides interim guidance on the new excise tax...more

McDermott Will & Emery

Top Takeaways for Tax-Exempts from IRS Guidance on Executive Compensation

One of the more controversial and complex provisions of the Tax Cuts and Jobs Act has been the 21 percent excise tax on certain nonprofit executive compensation. On December 31, 2018, the IRS issued interim guidance that...more

McDermott Will & Emery

Free Parking Only Exists in Monopoly: New IRS Guidance Makes Employer-Provided Parking More Costly and Burdensome Than You Think

McDermott Will & Emery on

As part of its comprehensive 2017 tax reform bill, Congress repealed deductions for Qualified Transportation Fringes including for employer-provided parking, while also requiring that tax-exempt organizations increase their...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part VIII: Charitable and Tax-Exempt Organizations / Estate and Gift Taxes

Foster Garvey PC on

Charitable organizations work hard to maintain exempt status. These organizations operate in a highly regulated landscape: In exchange for enjoying freedom from income taxes, they must comply with strict organizational and...more

Bowditch & Dewey

Trump’s Tax Reform: Effect on Nonprofits

Bowditch & Dewey on

The Administration’s frenzy to pass “tax reform” created tax breaks for some—I’m looking at you, the Trump family—increased taxes for others, and confusion for everyone, at least until the IRS is able to promulgate official...more

Proskauer - Proskauer For Good

Helping Non-Profits Navigate Tax and Labor Issues

Amanda Nussbaum, a partner in the Tax Department and a member of the Not-for-Profit Group at Proskauer, chairs a comprehensive seminar each fall for non-profits to discuss current developments and topics of interest related...more

McGuireWoods LLP

IRS Provides Limited Section 162(m) Transition Relief for RSUs and Similar Equity-Based Awards

McGuireWoods LLP on

The Internal Revenue Service (IRS) recently issued final regulations under Section 162(m) of the Internal Revenue Code (Code). The final regulations are substantially similar to the proposed regulations issued by the IRS in...more

Morgan Lewis

IRS Issues Final Report on Colleges and Universities Compliance Project

Morgan Lewis on

Report offers lessons for many tax-exempt organizations on unrelated business taxable income and executive compensation....more

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