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Viewing entries tagged with 'IRS Allows Tax Break for Bonuses'

IRS Allows Tax Break for Bonuses

Posted by IRS Allows Tax Break for Bonuses on 15 November 2011

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IRS Allows Tax Break for Bonuses The Internal Revenue Service has issued a new *2011 revenue ruling* permitting an employer that is using an accrual method of accounting to take a deduction in the current year for a fixed amount of bonuses payable to a group of employees, even though the employer does not know which of the employees will receive a bonus or the amount of any particular bonus until after the end of the taxable year. ...

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