Tag Archives: excess

Employee Benefits-IRS Provides Guidance On Excise Tax Imposed On A Tax-Exempt Organization That Pays Excess Remuneration (Or An Excess Parachute Payment) To An Employee

In IRS Notice 2019-09 (the “Notice”), the Internal Revenue Service (“IRS”) has provided guidance on the excise tax imposed on a tax-exempt entity under Code section 4960 that pays excess remuneration (or an excess parachute payment) to an employee. Here … Continue reading

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Second Circuit: Excess D&O Policy’s Warranty Statement Exclusion Precludes Coverage

The Second Circuit recently took up the insurance coverage dispute arising out of the high profile enforcement action the SEC pursued against hedge fund Patriarch Partners and its CEO, Lynn Tilton. The district court had ruled that coverage under the … Continue reading

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Guidance Slowing Appearing for UBIT & Excess Compensation TCJA Provisions

In its August 2018 Update for the 2017-18 Priority Guidance Plan, Treasury and the IRS identified only two exempt organization specific items from the Tax Cuts and Jobs Act (TCJA) as needing guidance this fiscal year: "computation of unrelated business… … Continue reading

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Excess cash, excess tax – what’s on your balance sheet?

Canadian federal income tax law provides numerous benefits to companies that engage in an “active business”. Whether a particular endeavour undertaken is an “active business” is, of course, a question of fact and depends on individual circumstances. Some scenarios are … Continue reading

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Do I Need Excess Liability Coverage? Don’t End Up Like Mary and John!

Do I Need Excess Liability Coverage? Don’t End Up Like Mary and John! Source: Flickr John and Mary live in a nice five bedroom home located in California. They’ve lived in their three thousand square foot home for twenty five … Continue reading

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