IRS rule would implement excise tax on certain executive compensation

IRS rule would implement excise tax on certain executive compensation tjordan_drupal Jun 8, 2020

The Internal Revenue Service Friday issued a proposed rule implementing a provision of the Tax Cuts and Jobs Act of 2017 that imposed a 21% excise tax on certain executive compensation paid by tax-exempt organizations. Under the proposed rule, any deferred compensation arrangement or retention or retirement bonus not vested prior to the first taxable year beginning after Dec. 31, 2017 is subject to the tax. The agency will accept comments on the proposed rule for 60 days after its publication in