By Sarah Ivy ( May 31, 2018, 12:32 PM EDT) -- The Tax Cut and Jobs Act of 2017 included important provisions impacting nonprofit organizations, with few exceptions. Specifically, under Section 4960 of the Internal Revenue Code, nonprofits are subject to a new 21 percent excise tax on (1) compensation exceeding $1 million annually and (2) excess parachute payments to covered employees — typically, the organization's executives. As with any tax law, the devil is in the details. ...
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