What is considered as a parachute payment in Form 990?
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Last modified 12/26/2023 4:41:51 AM EST |
Applicable To
990-PF
990-N
990-EZ
990
8868
1120-POL
Parachute payments are considered payments that include compensations, bonuses, severances, payments that occur due to a change in control of the organization, and other similar payments.
An organization that makes a parachute payment of more than $1,00,000 to any covered employee is required to file Form 4270.