August 13, 1998

Excerpts From Proposed I.R.S. Rules on Excess Compensation at Charities

Following are excerpts from the Internal Revenue Service's explanation of its proposal to carry out a 1996 federal law that allows the agency to impose penalties on charity officials, trustees, and others who receive overly lucrative financial benefits through their association with charitable organizations. The explanation defines who is covered by the law -- referred to in the law as "disqualified persons."

Taxes onexcess-benefit

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