Excise Tax on Executive Compensation: What’s Known Now, What’s To Be Determined
For years beginning after December 31, 2017, tax exempt organizations will now be required to pay a 21% excise tax for any compensation that it paid to its “covered employees” that exceeds $1 million. Watch Tom Lanning, Partner in the Not-for-Profit Industry Practice, explain what not-for-profits need to know about excise tax.
Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.
InsightCohnReznick Webinar Recap: 2019 FASB Update for Not-for-Profit OrganizationsRecently, CohnReznick’s Not-for-Profit and Education practice hosted a webinar titled, “2019 FASB Update for Not-for-Profit Organizations.” The webinar, the latest in our ongoing Not-For-Profit Governance & Financial Management Webinar Series, focused on key ASUs for not-for-profits. In this article, we provide important hightlights related to ASU 2018-08, “Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made.”
On-demand2019 FASB Update for Not-for-Profit OrganizationsCatherine Syslo, John Alfonso, Rick ColeJoin CohnReznick for a timely accounting update for not-for-profit organizations. Taught by Rick Cole, Supervising Project Manager at the Financial Accounting Standards Board (FASB), this webinar will cover key areas of: ASU 2018-08, Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made; ASU 2014-09, Revenue from Contracts with Customers; and ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities.
Insight2019 Not-for-Profit & Education Industry Perspectives ReportJohn AlfonsoAs 2019 is already emerging as a year when many not-for-profits are being asked to do even more with less, how will the leaders of these vital not-for-profits navigate these challenging times and ensure their organizations will continue to thrive? To find out, we consulted executives from a diverse array of not-for-profits in the areas of higher education, associations, foundations and grant-making organizations, social services, and housing organizations.