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Expert Analysis

5 Excise Tax Tips For Tax-Exempt Employers

By Seth Safra ( March 15, 2019, 3:20 PM EDT) -- The 2017 tax reform act[1] created a new excise tax under Section 4960 of the Internal Revenue Code that will affect many tax-exempt employers. [2] The tax is 21 percent of certain compensation and can be triggered if an employee receives more than $1 million of compensation or an employee receives certain post-termination payments — "parachute" payments. The tax can apply even if the tax-exempt employer never pays $1 million in compensation. . . .

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