What Is An IRS Independent Security Study?

Executives face an ever-growing range of security risks that span work and home. It is shockingly easy to ascertain the whereabouts, home address, travel plans, or online presence of executives and protecting them from these risks should be done in a way that is:

a) Comfortable for the executive and their family;

b) Sufficiently comprehensive to ensure the safety and security of both the executive and the company; and

c) In compliance with US Tax Code while ensuring maximum benefits and cost-effectiveness.

For this reason, an Independent Security Study (ISS) allows companies to provide comprehensive security services to address bona fide business-oriented security concerns without imputing the costs of these services as the executive’s income.

An ISS can identify and document security services that qualify as “working condition fringe” according to the Internal Revenue Service and corresponding Treasury regulations.

According to the US Tax Code:

- An ISS report must provide specific facts explaining why a bona fide business-oriented security concern exists and include specific recommendations that must be followed.

- An ISS should be updated every three years to address business changes and/or changes with the affected executive.

Insite has decades of experience performing an ISS, delivering reporting that is compliant with IRS code, and helping companies implement recommendations.

Click here to schedule a consultation to learn more about and IRS ISS.