This week, the IRS issued proposed regulations providing that the excise taxes imposed by sections 4960, 4966, 4967, and 4968 are to be reported on Form 4720. Sections 4966 and 4967 were added to the Code by the Pension Protection Act of 2006 and impose excise taxes on certain distributions from donor advised funds. The 2017 tax law added sections 4960 and 4968 to the Code. Section 4960 imposes an excise tax on remuneration in excess of $1 million paid to an employee of a tax-exempt organization. Section 4968 imposes an excise tax on the net investment income of an applicable educational institution. Treas. Reg. §§ 53.6011–1 and 53.6071–1 require persons subject to certain enumerated excise taxes under Chapter 42 of the Code to file a Form 4720 to accompany payment of those excise taxes. Sections 4960, 4966, 4967, and 4968 were added to Chapter 42 of the Code, but were not previously enumerated in Treas. Reg. §§ 53.6011–1 and 53.6071–1. The proposed regulations add these sections to those regulations and will be effective upon publication as final regulations in the Federal Register.