Entries by Shantal DiMichele

Understanding the Excise Tax on Nonprofit Executive Compensation

Nonprofit tax reporting, as outlined in Form 990, presents its own complexities compared to Publicly Held Corporation tax reporting. One in particular is the excise tax imposed on a Tax-Exempt Organization’s five highest compensated “covered” employees, as reported on Form 990, Part VII, Section A, with total compensation exceeding $1,000,000. This excise tax, first introduced […]