Sec. 70416. Expanding application of tax on excess compensation within tax-exempt organizations
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/bill/119/hr/1/eas/section-70416A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 4960(c)(2) is amended to read as follows: For purposes of this section, the term covered employee means any employee of an applicable tax-exempt organization (or any predecessor of such an organization) and any former employee of such an organization (or predecessor) who was such an employee during any taxable year beginning after December 31, 2016. . The amendment made by subsection
(a)shall apply to taxable years beginning after December 31, 2025.