Fringe benefits taxation irs




With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. The passage of Tax Reform has however prompted some significant changes in 2018. Fringe benefits have been a special area of focus of this compliance study and audit initiative. −Taxation of executive compensation is currently included in routineIRS Audits Focus on Fringe Benefits IRS Audits Focus on Fringe Benefits The Internal Revenue Service (IRS) has informally indicated that it will audit 6,000 randomly selected U. This webinar will focus on requirements for taxation and reporting of employee fringe benefits including transportation fringe benefits, section 132 fringe benefits, meals, clothing, housing and education fringe benefits, and third party sick pay. Executive fringe benefits that the IRS is looking at have included housing, use of a company car, discounted property or services, gift cards, meal reimbursements, fitness club memberships, life insurance and retirement accounts. S. In recent years, there have been small adjustments to Publication 15-B but the annual release goes largely unnoticed. Fringe benefits are a form of pay for the performance of services. This program will provide guidance on how you can determine when a benefit becomes taxable. This training program will discuss the taxation of different types of fringe benefits related to transportation including the personal use of a company car, proper accounting and taxation of auto allowances, personal use of a company aircraft, and the IRS 132 fringe benefits such as parking and mass transit passes. Participants will walk away with a better understanding of the IRS views on fringe benefit taxation. 3/7/2018 · Each year the IRS releases Publication 15-B, an Employer’s Tax Guide to Fringe Benefits. According to the Internal Revenue Service, unless specifically excluded by law, these fringe benefits are subject to taxation and must be reported on the employee’s paycheck and W‐2 form. The value of the fringe benefit is added to the employee’s gross pay, and it The IRS puts a lot of regulation around how the fringe benefit is given for non-taxable fringe benefits. Included in this group is the Fringe Benefits Audit Techniques Guide. And with the IRS looking for consistency of treatment—you can’t afford to make a mistake. companies to determine whether they pay required employment taxes – with a focus on several areas, including the employment taxation of fringe benefits. It will also provide best practices to comply with IRS taxation and reporting requirements. Experience high-quality instruction with our Self-Study Videos, available to you 24/7. . The taxation and reporting for these fringe benefits offered by many companies today are major components of a payroll department’s responsibilities. 6/12/2013 · Taxation of fringe benefits has always been important, but why the focus or discussion now? −IRS released six audit techniques guides focusing on executive compensation


 
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