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IRS and Congress Target Exempt Organizations' Executive Compensation Practices
McDermott Will & Emery 
June 28, 2004
Excerpt: The Internal Revenue Service recently announced its plans to contact hundreds of tax-exempt organizations (EOs) this summer regarding the compensation paid to their highest paid employees. The IRS has also announced that it will be reviewing transactions reported on the Form 990 by Section 501(c)(3) and 501(c)(4) tax-exempt organizations as 'excess benefit transactions,' as well as any failure of an EO to indicate on the Form 990 whether it has had any excess benefit transactions.
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