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Managing the 'excess compensation' tax: Exempt organizations with highly paid employees must reckon with this burden.
- Source :
- Journal of Accountancy; Mar2021, Vol. 231 Issue 3, p1-8, 8p
- Publication Year :
- 2021
-
Abstract
- The article offers information about the Tax Cuts and Jobs Act (TCJA) has enacted changes to the tax law that have proved costly to some tax-exempt organizations in the U.S. It mentions that TCJA has amended law to provide less-favorable rules for computing tax on unrelated business income, added a tax on the investment income of larger private colleges and universities and added an excise tax on excess compensation paid to certain executives and other highly paid employees.
- Subjects :
- NONPROFIT organizations
VOLUNTEER service
EXCISE tax
TAXPAYER compliance
Subjects
Details
- Language :
- English
- ISSN :
- 00218448
- Volume :
- 231
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Journal of Accountancy
- Publication Type :
- Periodical
- Accession number :
- 149039106