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IRC Section 4958 — A Big Hammer in the IRS Toolbox

Not for profit entities must plan and document their executive compensation packages outlined in IRC Section 4958 To ensure that not for profit entities are being good stewards of their donors, or taxpayers' contributions, the IRS wields significant power to impose onerous penalties on over-compensated executives from 25% to 200% through the use of IRC Section 4958. ...

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Current Practice Issue: Applying the Equity Method —Grant Thornton

 On the Horizon Offers Two Examples of Appropriate Ways to Apply FASB Guidance.  Plus: New Guidance on Reporting Discontinued Operations and Not-for-Profit Entities Grant Thornton recently published a useful article on applying the equity method in its On the Horizon web-based publication, which also notes that the Fair Accounting Standards Board (FASB) has suggested new guidelines for reporting discontinue ...

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