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.
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InsightCohnReznick webinar recap: 2019 FASB Update for Not-for-Profit OrganizationsCatherine SysloRecently, 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.”
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.
InsightTax-Exempt Groups Face New IRS E-Filing Rules Under TFAOn June 13, the Senate voted to approve the Taxpayer First Act (TFA), H.R. 3151. Previously approved by the House, the bill now awaits President Trump’s signature. The main focus of the TFA has been to improve overall customer service by the IRS through changes within the agency’s management and oversight.