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Davis, an officer for a 501(c)(3) organization, receives benefits in the form of an overly generous health insurance plan; these benefits are inappropriate in the
Davis, an officer for a 501(c)(3) organization, receives benefits in the form of an overly generous health insurance plan; these benefits are inappropriate in the context of a charitable entity of its type. The excess benefits are determined to be $40,600. Davis does not pay back the excess benefits to the organization before the first-level tax is due.
The first-level taxes imposed are:
On the exempt organization management: _____
On Davis: _____
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