Interim Guidance Under §4960: Excise Taxes and Parachute Payments

By Alexander K. Song

Mintz attorneys Alden Bianchi and Alexander Song recently published an article in the Bloomberg Tax - Compensation Planning Journal explaining the nuances of recent guidance from the IRS regarding Section 4960 of the tax code.  Section 4960 was enacted in December 2017 and imposes an excise tax on the amount of remuneration in excess of $1 million, plus any excess parachute payment paid by an applicable tax-exempt organization to certain covered employees. 

The article will be useful for tax exempt organizations in considering the impact of Section 4960 on their organizations. The full article can be found here. 

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    Alexander K. Song

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    Alexander K. Song is a Mintz Associate whose practice focuses on all aspects of executive compensation, including drafting of equity and incentive compensation plans and award agreements. Alex also handles employment, change-in-control, and severance arrangements for executive officers.