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UPDATED: NOVEMBER 2007 112

INCOME EARNED

COMMISSIONS, BONUSES AND SIMILAR PAYMENTS

Verification: (a) Seeing a statement from the employer stating the criteria for payment of commissions bonuses or royalties and the anticipated earnings;

(b)Seeing the income tax return for the previous year;#

(b) Seeing the income tax return for the previous year;

(c)Seeing wage statements; and#

(c) Seeing wage statements; and

(d)If applicable, seeing statements of expenses.…#

(d) If applicable, seeing statements of expenses. Documentation: Sufficient to establish an audit trail:

(a) Employer's statement verifying the amount and pay period of salary, if any, and the amount of past commissions , royalties or bonuses; and

(b) Name of the supplier, date, amount and item of business expenses; or.

(c) Copies of the A/R's income tax return for the previous year.

(MRG)

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