FMN Plus-2024/Feb, Seg 5 - Successfully Navigating Increased IRS Scrutiny of Compensation
Closely held corporations and tax-exempt charitable nonprofits, like all other employers, are required to comply with IRS regulations requiring compensation to be "reasonable" and not "excessive," thus, financial advisors would be well served to advise their clients to expect IRS scrutiny of compensation. Stephen Kirkland, an expert on reasonable compensation amounts for business owners, executives, professionals, trustees, and directors, navigates us through tax considerations and best practices in this area for compensation consultants and closely held or non-profit organizations.
Learning Objectives:
- Identify how the IRS determines if an employee has been overpaid or underpaid
- Recognize how to address the burden of proof in compensation disputes
- Distinguish the role of intent in IRS compensation decisions
- Recognize the importance of understanding fiduciary duties to clients in relation to compensation issues
Prerequisites/Advanced Preparation:
None
Details
Course Code
:
FMN1551-FM
Release Date
:
02/09/2024
|
Expire Date
:
09/13/2025
|
Credits
:
|
Length
:
1hr 40min
|
Course Level
:
Update
|
Course Type
:
QAS Self-Study
|
Passing Grade
:
70%
|
Format Type
:
eLearning
Mobile Compatible
|
Field Of Study
:
Taxes
|
|
Theme
:
Corporate Tax Series
|