Fringe Benefits in 2021: New Changes and more
Participants with walk away with a better understanding of the IRS view on fringe benefits taxation. The details of the IRC exceptions allowed by the IRS will be detailed and explained to participants. Companies are providing more fringe benefits to employers more than ever before, thus reduces company cost but raises employee morale. Because of this the IRS has more to say on what Fringe Benefits are taxable and what is not.
The IRS for non-taxable fringe benefits puts a lot of regulation around how the fringe benefit is given and when that also determines if a thought non-taxable item may end up being taxable.
Internal Revenue Code and how to understand how fringe benefits are written
Review taxation of home office and other COVID related benefits
How to calculate the value of a noncash fringe benefit
Review of excludable fringe benefits
Details of how the tax cuts and jobs act impacted fringe benefits
Procedures for recording fringe benefits
Year-end best practices for fringe benefit taxation
Review FMV (Fair Market Value) and how the IRS determines it.
Discussion on No additional cost services, employee discounts, working condition fringe benefits & De minimis Fringe Benefits.
Discuss several excludable fringe benefits such as Retirement planning, athletic facilities, achievement awards etc.
Discuss fringe benefits that should be taxable
Review Moving/Relocation Expenses
Review executive taxation items, like spousal travel. Company aircraft usage etc.
Once a benefit is determined taxable, how to handle it
Participants will be able to better identify and calculate the fair market value of fringe benefits for taxation purposes.
Payroll Supervisors and Personnel
HR Director, HR manager, HR VP, HR Specialist
HR Supervisors and Personnel
Employee Benefits Administrators
Officers and Managers with Tax or Benefits Compliance Oversight
Company /
Audit and Compliance Personnel / Risk Managers
*Ask your question directly from our expert during the Q&A session following the live event.
**Recorded Version: Unlimited viewing for 365 days ( Access information will be emailed 36 hours after the completion of live webinar).