In 2019 the IRS Audits a Company's 2017 Tax Return

question 9

True/False

In 2019 the IRS audits a company's 2017 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 2017.The president will amend her 2017 tax return to get a refund of the taxes paid on the excess salary.

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Definitions:

Sighs

Deep and long breaths that often express relief, tiredness, or similar emotions, and serve physiological functions such as lung inflation.

Shoulders

The upper part of the human body between the neck and the upper arm, containing the shoulder joint and associated muscles.

Eliciting Emotion

Eliciting emotion refers to the process of inducing or provoking specific emotional responses in individuals through various stimuli or situations.

Thalamus

A vital brain structure that acts as a relay station, processing and transmitting sensory information to the cerebral cortex.