The IRS May Conclude That a CEO/shareholder of a Closely-Held

question 77

True/False

The IRS may conclude that a CEO/shareholder of a closely-held corporation has been paid a nondeductible constructive dividend rather than a deductible salary.

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Definitions:

Auto Repairs

Services provided to fix or maintain vehicles to ensure they are in optimal working condition.

Gasoline

A petroleum-derived liquid mixture consisting primarily of hydrocarbons, used primarily as fuel in internal combustion engines.

Auto Repairs

Services provided by mechanics and technicians to fix and maintain vehicles to ensure their proper functioning.

Gasoline

A combustible, easily evaporated liquid obtained from petroleum, primarily utilized as fuel in engines that operate on internal combustion.