RECORDED TRAINING COURSE
1 CEU HRCI | 1 PDC SHRM APPROVED
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
Why you should Attend:
Participants will be able to better identify and calculate the fair market value of fringe benefits for taxation purposes.
Who should attend:
- Payroll Supervisors and Personnel
- HR Director, HR manager, HR VP, HR Specialist
- HR Supervisors and Personnel
- Public Accountants
- Internal Auditors
- Tax Compliance Officers
- Enrolled Agents
- Employee Benefits Administrators
- Officers and Managers with Tax or Benefits Compliance Oversight
- Business Owners
- Managers/ Supervisors
- Public Agency Managers
- Audit and Compliance Personnel / Risk Managers
**Recorded Version: Unlimited viewing for 365 days ( Access information will be emailed 36 hours after the completion of live webinar).