Live Webinar

65-minute live streaming program
  • December 15
  • 1:00 - 2:05 pm EST

Also available as:

OnDemand Course

Federal Income Taxation of Employee Fringe Benefits

December 15

Understand the federal tax laws when providing prizes, bonuses, and other benefits.

While competitive salaries often attract top employees to join an employer, employers often provide competitive and attractive prizes, bonuses, awards, and other benefits to boost their employees’ morale and reward employees for going the extra mile. However, employers must be aware of federal tax laws when providing these benefits, or they may find these benefits more expensive than originally thought. This topic will help you learn different ways employees may be rewarded for exceptional performance without incurring additional tax expenses or at least avoiding penalties. Review reporting and withholding requirements that ensure employers fully comply with federal tax obligations. This topic will also keep you abreast of important changes in this area under the Tax Cuts and Jobs Act and update you on the latest regulations.

Learning Objectives

  • You will be able to identify the tax implications of fringe benefits for both employers and employees.
  • You will be able to review how to determine your fringe benefit policies.
  • You will be able to describe ways employees can be rewarded for performance.
  • You will be able to identify important changes in this area under the Tax Cuts and Jobs Act.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Cash and Non-Cash Benefits for Employees Generally Can’t Be Treated as Gifts
  • Definition of Income Under Section 61; Section 83
  • Section 102 - No Income Exclusion for Gifts to Employees
Transportation Benefits
  • Employer-Provided Vehicles
  • Transportation Fringe Benefits
  • Parking Expenses
  • No Deduction or Exclusion for Moving Expenses Under Tax Cuts and Jobs Act
Entertainment, Meals, and Lodging
  • What Is Entertainment?
  • Meals
  • Meals Provided for the Employer’s Convenience
  • Lodging Provided for Employer’s Convenience
Educational Benefits
  • Educational Assistance Plans
  • Working Condition Fringe Benefits for Job-Related Expenses
  • Qualified Scholarships
  • Qualified Tuition Reduction
  • Seminars and Other Training Involving Travel
Recognized ‘Fringe Benefits’ Under IRC Section 132
  • De Minimis Fringe Benefits
  • Working Condition Fringe Benefits
  • Cell Phones and Other Mixed Use Technology Items
  • Holiday Parties
Prizes and Awards
  • Employee Achievement Awards
  • Prizes and Awards Transferred to Charities
  • Qualified Employee Discounts
  • Holiday Gifts
Withholding, Reporting, and Deduction Issues
  • Reportable Items on Form W-2
  • Withholding Rules Applicable to Supplemental Wages
  • Withholding on Non-Cash Benefits
  • Limitations on Deductions for Certain Benefits to Employees
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • CPP/FPC
     
  • Lorman Education Services is an approved provider through the American Payroll Association. This seminar is approved for 1.0 RCHs. PLEASE NOTE: To receive credit through the American Payroll Association for this program you MUST attend the program in its entirety and use the streaming option, as well as enable (and complete) the required progress checks.
     
  • HR Certification Institute 1.0
     
  • This program has been approved for 1.0 (General) recertification credit hours toward aPHR(TM), aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM) and SPHRi(TM)recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.0
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
     
  • CPE 1.2 including Taxes 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 1.2 hours. Prerequisite: basic knowledge of processing payroll. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

OnDemand Course

This course was last revised on December 2, 2021.

Call 1-866-352-9540 for further credit information.

  • CPP/FPC
     
  • Lorman Education Services is an approved provider through the American Payroll Association. This seminar is approved for 1.0 RCHs. PLEASE NOTE: To receive credit through the American Payroll Association for this program you MUST attend the program in its entirety, complete all progress checks and pass the final exam. You cannot obtain credit if you have already completed this course in its live version.
     
  • HR Certification Institute 1.0
     
  • This E-Learning program has been approved for 1.0 (General) recertification credit hours toward aPHR(TM), aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM) and SPHRi(TM)recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.0
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

  • Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for human resource managers, payroll professionals, CFOs, controllers and accountants.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Luke D. Bailey

Luke D. Bailey

Clark Hill PLC

  • Senior Counsel in the Collin County, TX office of Clark Hill PLC
  • Practices in all aspects of employee benefits and executive compensation
  • Conducts regular seminars and workshops on numerous employee benefits and executive compensation issues
  • Author of numerous articles related to the areas of employee benefits and executive compensation
  • J.D. degree, Order of the Coif, University of California at Berkeley (Boalt Hall); A.B. degree, cum laude, Occidental College
  • Can be contacted at 214-651-4572 or [email protected]
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 410203
Published 2021, 2022
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