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IRS Updates Audit Guide For Nonqualified Plans - Accounting and Audit
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Cost of SAPS deployment to quell riots estimated at R350m
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New IRS Guidance Regarding Code Section 45Q Credits - Revenue Ruling 2021-13 | Perkins Coie
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Code Section 45Q Credits in Revenue Ruling 2021-13 Guidance Released
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One of the most important decisions a board determines is what constitutes reasonable compensation. The rules for this determination are robust and so are the taxes imposed for violations of the Internal Revenue Code and the corresponding Treasury Regulations. In this 2-Part series, we examine the taxes imposed for unreasonable compensation and explain the steps for determining reasonable compensation. In this Part 1, we introduce the persons potentially subject to the taxes and the taxes themselves.
Whose compensation is possibly subject to I.R.C. § 4958 taxes?
In 1996, Congress enacted I.R.C. § 4958, the intermediate sanction on excess benefit transactions. An