132-7(a)(2) and (3), meals provided at an eating facility in a nondiscriminatory manner will qualify as a de minimis fringe benefit
if the following conditions are met: The employer must own or lease the facility; the facility must be operated by the employer, direcdy or by contract with another party; the facility must be located on or near the business premises of the employer; the meals must be provided during, or immediately before or after, the employees' workday; and the annual revenue derived from the facility must normally equal or exceed the direct operating costs of the facility (the revenue/operating cost test).
IRS Fringe Benefits
can be confusing and frustrating.
Austin, Texas-based Fringe Benefit
Group and its affiliate companies help employers design and administer fringe benefit
Taken together, fringe benefits
can be a significant component of compensation and a tool for attracting, motivating and retaining talented employees.
A working condition fringe benefit
includes property or services provided to an employee that the employee could deduct as a trade or business expense (or as a depreciable asset) if the employee had to pay for it (Sec.
The IRD has recently confirmed that generally, if a fringe benefit
is available to an employee, but is not used, there is no benefit.
The 1RS recently published its 2012 Publication 15-B "Employer's Guide to Fringe Benefits
Educating these contractors about prevailing wage benefit programs is a significant opportunity for brokers interested in growing their business--helping open shop contractors understand how they can reduce their costs, decrease their bid and remain compliant by implementing a fringe benefit
wage program should certainly pique their interest.
The Code provides that if an employee of an S corporation owns more than two percent of the stock (an MTTPSE-more-than-two-percent shareholder-employee -for purposes of this chapter), the MTTPSE is treated as a partner for fringe benefit
This would be true even if the employee received a free meal on the plane with an FMV of $8, which would constitute a de minimis fringe benefit
During the 1970s the Treasury Department was grinding out various fringe benefit
TEI suggests that the ruling misreads the definition of de minimis fringe benefit
under section 132(e).