IRC Section 4958, Taxes on Excess Benefit Transactions

May 2012
How to Form a Nonprofit Corporation (9781413313871);May2012, pF20
The article presents a code section summary relative to the Internal Revenue Code (IRC) 4958 about taxes on excess benefit transactions in the U.S. It highlights the initial taxes to be paid by the disqualified person which is equal to 25 percent of the excess benefit. In addition, the tax imposed by this subsection shall be paid by the disqualified person referred to in subsection (f)(1) with respect to such transaction.


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