NASCUS letter regarding excise tax liabilities

NASCUS letter regarding excise tax liabilities

NASCUS wrote to the House Ways & Means Committee leadership expressing concerns regarding anticipated tax liabilities related to the 21% excise tax on excess executive compensation required under the Tax Cut and Jobs Act of 2017 (TCJA).

NASCUS notes in the letter that  the tax will result in a significant hardship for credit unions that were not able to plan in advance for such costs and provided real life examples highligting the impact of the excise tax on credit unions.

 

NASCUS Letter TCJA Excise Tax