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Home > NewsRelease > IRS Finalizes Tax on Non-Profit Organizations with Million Dollar Salaries and Parachute Payments
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IRS Finalizes Tax on Non-Profit Organizations with Million Dollar Salaries and Parachute Payments
From:
Trinity Foundation, Inc -- Religion Fraud Detectives Trinity Foundation, Inc -- Religion Fraud Detectives
For Immediate Release:
Dateline: Dallas, TX
Thursday, March 4, 2021

 

The IRS has finalized its rules on an excise tax to discourage excessive compensation at non-profit organizations. In its February 16th Bulletin, the IRS announced an update to section 4960 of the Internal Tax Code taxing non-profit organizations and churches that pay “covered employees” more than $1 million in wages or provide excessive parachute payments. […]

The post IRS Finalizes Tax on Non-Profit Organizations with Million Dollar Salaries and Parachute Payments first appeared on Trinity Foundation.
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Group: Trinity Foundation, Inc./The Door Magazine
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