IRS Releases Proposed Regulations on Executive Compensation for Tax-Exempt Organizations

The Internal Revenue Service and US Department of the Treasury have released proposed regulations governing the excise tax imposed by Internal Revenue Code Section 4960 on certain executive compensation paid to employees of tax-exempt organizations. These proposed regulations address several important questions about the applicability of Section 4960, including the treatment of employees of a taxable company who serve as officers or other volunteers of a related exempt organization, and the treatment of Section 457(f) plans. READ MORE