Abstract
The US Tax Court, by decision dated July 26, ruled that an individual, in her capacity as a disqualified person with respect to a public charity, owes $258,750 in excise taxes, plus tax penalties, as the consequence of engaging in excess benefit transactions in the form of payments that cannot be characterized as compensation (Ononuju v. Commissioner).
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
