Austin, Texas-based Fringe Benefit
Group and its affiliate companies have helped employers design and administer fringe benefit
programs since 1983.
But there is also basis for the payments to HMOs to be excluded from the coverage of the tax, whether fringe benefits
tax or withholding tax on compensation.
The special allowances can be considered as fringe benefits
under Section 33 (A) of Tax Code as petitioners said these should not be subjected to any withholding tax because the grant is 'indisputably necessary' to insulate the judiciary from outside influence.
1.132-7(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.
For the most part, they aren't treated as employees for fringe benefit
purposes, although they may be entitled to tax deductions for many expenses.
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.
Allow individuals to combine their bike benefit with other transportation fringe benefits
, as long as the total remains under the $200 cap.
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.
* For FICA (social security) purposes, these fringe benefit
amounts may or may not be includable, depending on the FICA rules for the type of plan involved.
According to Treasury Regulations section 1.132-6(d)(4), where the benefit is too valuable or is provided too frequently, then the benefit will not qualify as a de minimis fringe benefit
. Typically, in such situations, the value of the entire benefit will be included in an employee's gross income (Treasury Regulations section 1.132-6).
This article examines the Service pronouncements and judicial activity following the enactment of the DRA 1984 fringe benefit