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Taxable/Nontaxable Compensation

 

Gain a better understanding of the IRS's view on fringe benefit taxation and how to calculate the fair market value.

The details of the IRC exceptions allowed by the IRS will be detailed and explained. As companies are providing more fringe benefits to employers more than ever before, it's reducing company costs and raising employee morale. Because of this, the IRS has more to say on what fringe benefits are taxable and what are not. The IRS for nontaxable fringe benefits puts a lot of regulation around how the fringe benefit is given, and when, and it also determines if what was thought to be a nontaxable item ends up being taxable. This information will help you better identify and calculate the fair market value of fringe benefits for taxation purposes.