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Colleges Paying Top Dollar for Coaches Will Pay Extra to IRS

  • IRS releases guidance for excise tax on nonprofits’ pay
  • Hospital executives, sports coaches likely to face 21% tax
Notre Dame football GETTY Sub
Photographer: Ezra Shaw/Getty Images

Highly paid college sports coaches and hospital executives are among the nonprofit employees the Internal Revenue Service is targeting in the final version of a tax-law regulation.

The IRS issued guidance Monday implementing a measure from President Donald Trump’s signature 2017 tax overhaul, which lowered corporate and individual levies but included some revenue-raising elements to help reduce the mammoth $1.5 trillion cost.