Erika Mayshar Erika Mayshar

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Erika Mayshar provides tax planning advice for business entities and tax-exempt organizations. Her clients include hospitals and health systems, medical foundations, universities, corporate and family foundations, and trade associations, as well as private equity firms, investment management firms and closely-held businesses seeking to partner with nonprofits in creative ways. Read Erika Mayshar's full bio.

Coronavirus National Emergency Declaration Permits Employers to Offer Tax-Favored Financial Assistance to Employees


By and on Mar 16, 2020
Posted In Employee Benefits, Employment, Health and Welfare Plans

On March 13, 2020, President Trump declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (the “Declaration”) due to extraordinary circumstances resulting from Coronavirus. This Declaration opens up new methods for employers to provide tax-favored financial assistance to employees who are affected, directly or indirectly, by the virus. Access...

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Timely Actions – Highly Compensated Excise Tax Deadline Imminent


By , and on May 14, 2019
Posted In Executive Compensation

As an update on an important matter that we raised during McDermott’s May 8 Tax Symposium, it is critical to promptly assess whether to report any excise taxes imposed under Section 4960 as the deadline for filing Form 4720 is May 15, 2019 for calendar year taxpayers. Section 4960 of the Internal Revenue Code imposes...

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Top Takeaways for Tax-Exempts from IRS Guidance on Executive Compensation


By , , , and on Jan 10, 2019
Posted In Employee Benefits, Executive Compensation

One of the more controversial and complex provisions of the Tax Cuts and Jobs Act has been the 21 percent excise tax on certain nonprofit executive compensation. On December 31, 2018, the IRS issued interim guidance that addresses how this tax will apply in various situations that commonly arise for tax-exempt employers. Establishing internal systems...

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Free Parking Only Exists in Monopoly: New IRS Guidance Makes Employer-Provided Parking More Costly and Burdensome Than You Think


By , , , , , and on Dec 20, 2018
Posted In Employee Benefits

As part of its comprehensive 2017 tax reform bill, Congress repealed deductions for Qualified Transportation Fringes including for employer-provided parking, while also requiring that tax-exempt organizations increase their unrelated business taxable income by the nondeductible parking expenses. Recently released IRS Notice 2018-99 addresses some of the year-end tax filing and tax planning concerns for affected...

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Tax Reform Bill Becomes Law: Lessons for Tax-Exempt Organizations


By , , , and on Dec 28, 2017
Posted In Employee Benefits, Executive Compensation, Retirement Plans

Tax-exempt organizations—especially hospitals and health systems—face a new tax reality now that both houses of Congress have voted to pass the final tax reform bill. Continue Reading.

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Final Senate Tax Bill: Outlook for Tax-Exempt Organizations


By , , and on Dec 7, 2017
Posted In Employee Benefits, Executive Compensation

The Senate’s final tax reform bill contains several troubling provisions for tax-exempt organizations but represents an improvement over last month’s proposed legislation, which caused concern across the nonprofit sector. Continue Reading.

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