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Author Question: In 2016 the IRS audits a company's 2014 tax return and determines that the president's salary was ... (Read 65 times)

cnetterville

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In 2016 the IRS audits a company's 2014 tax return and determines that the president's salary was excessive and disallowed $100,000 of the salary deduction. Under the terms of the hedge (payback) agreement in the corporate bylaws, the president repays $100,000 of her salary to her employer in 2016. The president will amend her 2014 tax return to get a refund of the taxes paid on the excess salary.
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Marked as best answer by cnetterville on Sep 13, 2020

31809pancho

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cnetterville

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Reply 2 on: Sep 13, 2020
Gracias!


essyface1

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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