The latest Incentive Research Foundation survey, IRF Signature Study: 2019 U.S. Federal Regulations and Non-Cash Awards focused on program owners’ awareness of tax and compliance understanding and found some mixed results. Of the 398 decision-makers from companies with $5 million or more in revenue, 77 percent were confident that their companies had a deep knowledge of the regulations. After testing respondents with a couple of different scenarios, the report found that that confidence may have been misplaced. One of the reports’ conclusions states, “While responses varied somewhat, overall, respondents too frequently identified legal and regulatory issues where none exist. This begs the question if programs are being changed needlessly where regulatory or tax requirements do not exist.”
If yours is one of the 39 percent of companies that have eliminated at least one program to comply with regulations, it might be time to brush up on your tax, compliance, and compensation knowledge.
Take the quiz to measure your own knowledge of incentive regulations, and click here for the full report.