- Words: 3157
- Length: 10 Pages
- Topic: Careers
- Paper #: 11611785
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