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800 Crescent Center Dr. Suite 200 Franklin, TN 37067 800 264.4000 aetnaseniorproducts.com Outline of Coverage Medicare Supplement Insurance BENEFIT PLANS A, B, F, HIGH DEDUCTIBLE F, G, N Underwritten
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Limit 4960 refers to the excise tax on excess remuneration paid by an applicable tax-exempt organization to covered employees.
Applicable tax-exempt organizations are required to file limit 4960 if they have paid excess remuneration to covered employees.
Limit 4960 must be filled out by providing information on the excess remuneration paid to covered employees and calculating the excise tax owed.
The purpose of limit 4960 is to discourage excessive executive compensation in applicable tax-exempt organizations.
The information reported on limit 4960 includes the names and compensation of covered employees, the excess amount paid, and the calculation of excise tax.
The deadline to file limit 4960 in 2024 is May 15th.
The penalty for the late filing of limit 4960 is $20 per day, with a maximum penalty of $10,000.
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