|Event Date||Mon Mar 16 EDT (almost 2 years ago)|
This topic helps you understand the basic concepts and to establish policies and procedures to identify the applicable individuals subject to these rules and regulations. The topic also explains the method required for analyzing key components inherit in a compensation study to create a rebuttable presumption of reasonableness. Failing to have a proper compensation study under the safe harbor rules under Section 4958 of the Internal Revenue Code will subject to organization and applicable individuals substantial penalties. It has often led to loss of goodwill among donors and constituents as well as increased scrutiny from IRS and state officials.
• You will be able to define intermediate sanctions and its applicability to your organization.
• You will be able to describe to key oversight committees what procedures need to be in place.
• You will be able to discuss the concepts and law required to protect your organization.
• You will be able to explain how to coordinate and conduct a compensation study within IRS guidelines.
Joe Giso, CPA, MST
Partner, Johnson O'Connor Feron & Carucci LLP