Companies that have a private foundation (or are otherwise related to a tax-exempt organization) should take immediate action to determine whether they owe an excise tax under new section 4960 of the Internal Revenue Code. Both publicly-traded and privately-held companies that have executives who serve as officers or employees of a private foundation controlled by the company are at particular risk, even if the executives receive no pay from the private foundation. Excise tax returns reporting liability under section 4960, and payments of any tax, are due by May 15 for calendar year taxpayers (although standard extension rules apply). https://www.jdsupra.com/legalnews/executive-compensation-excise-taxes-due-31915/