p. 702. Insert as fifth complete paragraph:
In February 2010, the IRS launched a payroll audit program of 6,000 companies, including 1,500 tax-exempt organizations. One of the stated aims of the audit initiative is to scrutinize compensation paid to executives at tax-exempt organizations.17.1
p. 708, first complete paragraph. Insert footnote following last line:
38.1 In addition to IRS attention, salaries for executives at tax-exempt nonprofit hospitals have come under increased scrutiny from state legislators and the public in states that are facing budget cuts. E.g., Dwyer, “Immune to Cuts: Lofty Salaries at Hospitals,” New York Times, March 15, 2011.
p. 710, fourth complete paragraph. Insert footnote at end of last line:
42.1 IRC § 4958(c)(3).
(ii) Defined Contribution Plans.
p. 720. Insert following first complete paragraph: ...