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IRS Looks to Limit Tax on Nonprofit Pay Above $1 Million, The Chronicle of Philanthropy

June 17, 2020

Morgan Lewis partner Alexander Reid was quoted in a Chronicle of Philanthropy article about the US Internal Revenue Service’s proposed regulations that would limit the scope of an excise tax on salaries made by employees and board members at related organizations.

In the piece, he discussed the benefits of the proposed changes for nonprofits. "These are precisely the people that you want to have on your board," Alex said. "It's a very scary prospect for nonprofits that the risk of a 21 percent excise tax might prevent these highly compensated individuals from serving."

Read the full Chronicle of Philanthropy article >>