Compensations and Benefits Issues Inequities, Thesis

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The IRS may also impose a 10% excise tax or a maximum of $10,000 on an officer who knowingly entered into a transaction (Samuels and Shoretz).

When this happens, the official endeavors to enter a rebuttable presumption that the compensation and benefits are reasonable (Samuels and Shoretz 2002). The board of directors or trustees must approve the three criteria for the rebuttal. In the first, the board must be composed entirely of members unrelated to and not beholden to the officer in question.

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In the second, the board must possess reliable data, comparing its compensation level with those of other organizations in similar situations. This is intended to lead the board to make sure the officer's compensation has comparable fair-market value with others in the geographical area. The data may be secured form reputable and independent surveys and the third requires the adequate documentation of the fixed compensation as its basis for determination......

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"Compensations And Benefits Issues Inequities ", 30 September 2008, Accessed.2 May. 2024,
https://www.aceyourpaper.com/essays/compensations-benefits-issues-inequities-27881