May 2026
Intermediate
368 pages
9h 30m
English
book
The Law of Tax-Exempt Organizations, 2026 Supplement, 13th Edition
by Shane T. Hamilton, Bruce R. Hopkins
Content preview from The Law of Tax-Exempt Organizations, 2026 Supplement, 13th Edition
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CHAPTER TWENTY-ONEIntermediate Sanctions
- § 21.2 Tax-Exempt Organizations Involved
- § 21.3 Disqualified Persons
- § 21.4 Excess Benefit Transactions
- § 21.10 Excise Tax Regime
- § 21.14 Return for Payment of Excise Taxes
§ 21.2 TAX-EXEMPT ORGANIZATIONS INVOLVED
p. 548, note 4, third line. Delete (see Part Three)
§ 21.3 DISQUALIFIED PERSONS
p. 550, first complete paragraph, penultimate sentence. Insert footnote number 24 at end of sentence.
p. 550, first complete paragraph, last sentence. Insert footnote number 25 at end of sentence.
p. 550, note 25. Insert following existing text:
This court subsequently found this individual liable for excess benefit excise taxes based on economic benefits they received from the public charity (Fumo v. Comm'r, T.C. Memo. 2025-97).
p. 550, note 27. Delete second sentence and insert:
An individual is a highly compensated employee with respect to a year if they received compensation exceeding a dollar limitation, which is indexed for inflation, in the immediately prior year. This limitation for 2025 and 2026 is $160,000 (Notice 2024-80, 2024-47 I.R.B. 1120; Notice 2025-67, 2025-49 I.R.B. 761).
§ 21.4 EXCESS BENEFIT TRANSACTIONS
(c) Automatic Excess Benefit Transactions in General
p. 555, note 66, fourth line. Delete § 53.4958-4(c)(3)(i)(A)(1) and insert § 53.4958-4(c)(3)(i)
p. 555, carryover paragraph. Insert before first complete sentence:
There are other forms of contemporaneous written ...
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