The IRS Is Increasing Scutiny of Exec Comp

September 2011
Credit Union Journal;9/19/2011, Vol. 15 Issue 36, p8
Trade Publication
In this article the author discusses the intermediate sanction rules under Section 4958 of the Internal Revenue Code concerning compensation and benefit issues involving credit union (CU) executives in the U.S. He relates that Section 4958 imposes excise taxes on both disqualified persons and on any organization manager who is involve in an excess benefit transaction. He conveys the insights of Lois Lerner from the U.S. Internal Revenue Service (IRS) regarding excess benefit transactions.


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