By
Kathleen Stephenson
and Lisa Petkun
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Compensation or severance payments to any person whose salary is over $200,000 would require the filing of additional supporting material with the IRS, and the payment of a processing fee for the IRS’s review. This information would be made available to the public.
4. Limit amounts paid for travel, meals and accommodation
Charities would be subject to the applicable U.S. government rate for expenses pertaining to travel, meals and accommodation, and would be subject to a penalty for failure to comply. Public charities would not be subject to these limits if the board of directors approves each expense above the limit or if such approval is disclosed on Form 990.
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- Internal Revenue Service
Kathleen Stephenson
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Lisa Petkun
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