An area of focus of the Internal Revenue Service’s (IRS) employment tax compliance studies initiated early in 2010 is the area of officer compensation. This area of focus is one of five such topics, also including the following:
- Worker misclassification
- Fringe benefits
- Employee expense reimbursement
- Non-filers
The IRS’s intent is to find areas of under-taxation and non-compliance. Experts have estimated that billions of dollars in potential taxes are left out of the national budget because of tax loopholes and tax evasion. In the area of officer compensation, the IRS has been looking at such items as the following:
- Forgiven loans
- Extravagant executive travel
- Business equity as a type of compensation
- Moving expense reimbursement or loans
If your company faces an IRS tax audit, you can expect agents to ask questions about officer compensation and other current areas of focus, such as expense reimbursement. Does your company give executives equity compensation? Lawyer Lawrence Brown of Brown, PC, can help your company prepare for scrutiny of all types of officer compensation. Attorney advocacy may be critical to the outcome of the audit. Do your own accountants and financial officers expect to handle this portion of the IRS audit? Their contribution is very valuable, but you should not leave out the muscle of experienced legal counsel as you prepare to face the lion’s den of a detailed tax audit of your business.
Meet the Challenge With a Challenger
It would be hard for your company to find a more qualified lawyer than Lawrence Brown to meet the challenge of an IRS tax audit. Mr. Brown brings keen insights as a former trial lawyer for the Department of Justice Tax Division and 20 years of experience in tax law to every case. If your tax audit case warrants it, he can assemble a team of tax experts such as CPAs, auditors and former IRS agents to develop a winning strategy. Brown, PC, counters the IRS in an audit situation while working toward a satisfactory outcome.
View our IRS audit success stories.