IRS guidance sheds light on reasonable compensation
$225.00
Description
Abstract: An IRS “job aid” for the agency’s valuation analysts provides insight into how taxpayers can expect the IRS to review compensation reported on tax returns. Although the guidance doesn’t represent an official IRS position, this article details how it can help C corporations, family businesses and S corporations determine whether compensation paid is reasonable — and to possibly avoid an audit. A sidebar explains how three business valuation approaches apply when estimating reasonable compensation.
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