Excess Benefit Transactions
Audiotape
recorded
February 18, 2002
Faculty: Dan
Mulholland & Henry
Casale
The IRS has published
final rules governing so-called "excess benefit" transactions
between tax-exempt organizations and corporate insiders
such as board
members,
top executives and key physicians. These replace the temporary
regulations published last year and contain several key changes.
Protect yourself and your board from ruinous tax liability
by learning how to stay within the safe harbors for these
kind of deals.
Issues discussed include:
- Safe Harbor for "Reasonable" Transactions
- Timing
of Reasonableness Determinations
- Who can Approve Transactions
- Getting a Reasonableness Opinion
- Indirect Economic Benefits
- Initial Contract Exception
- Fringe Benefits and Disregarded
Economic Benefits
- Revenue Sharing Arrangements
- Correcting Excess Benefit Transactions
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