Video

  • 8 minutes

Fringe Benefits: Salary Advances and Overpayments, Awards and Prizes

 

Avoid the cost of noncompliance penalties.

Salary advances and overpayments must be included in employee’s income when received and are subject to all federal taxes at that time. Tax treatment of repaid amounts depends on the type of tax and when it is repaid. This video reviews the tax treatment of these fringe benefits as well as dealing with awards and prizes that are given to employees.

Runtime: 7 minutes

Agenda

Faculty

Alma Stewart, CPP

Alma Stewart, CPP

Alma Stewart

  • U.S. Payroll Tax Manager
  • 25+ years of experience in payroll including managing multistate payroll departments
  • CPP/FPC Item Writer
  • Author of several publications in PayTech magazine related to payroll electronic payments
  • Member of American Payroll Association for 15+ years
  • Graduate in accounting, University of Alaska, Anchorage
  • CPP certification

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