New IRS Guidance Throws a Pass to Certain Universities That Pay Coaches Compensation in Excess of $1,000,000
In Notice 2019-09 (“Notice”), the IRS provides relief from the new excise tax to certain colleges and universities that pay their “covered employees” more than $1 million per year or pay excess parachute payments. Specifically, the Notice provides that the new excise tax under Code Section 4960 does not apply to a governmental entity (including […]
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2 min read
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Tagged: Code Section 4960, limit, notice 2019-09, parachute, tax-exempt, tax-exempt organizations
MS
Marvin "Bucky" Swift
Former Partner