8226; Review what special fringe benefits
that the IRS consider non-taxable benefits
C corporation stockholders who are also employees generally are entitled to the same tax-free fringe benefits
as other employees.
Employer payments or reimbursements for job-related educational expenses also can be excluded from the employee's income as a working condition fringe benefit
The provision of fringe benefits
is a common way of providing employees with value, with less or minimal cost to employers.
The Act was amended in 1964 to include a fringe benefit
calculation in the prevailing wage determination.
The Impact of Choice of Entity Selection upon Compensation and Fringe Benefit
Planning after Tax Reform," Journal of American Society of CLU and ChFC, March 1988.
On October 6, 1995, American Airlines filed suit in the Court of Federal Claims seeking a refund based on the contention that the voucher program qualified as a de minimis fringe benefit
within the meaning of IRC section 132(a)(4).
Below-market loans to employees and shareholders were a significant tax-free nonstatutory fringe benefit
that produced no imputed income to the borrower.
Observation: This Chief Counsel Advice rationale also may apply to other situations where an S corporation provides taxable, properly valued fringe benefits
12) When the sample is limited to workers who are covered by each type of fringe benefit
, the average share for health insurance increases to 7.
In the appropriate situation, deferred compensation provides the greatest advantages of all the non-qualified executive fringe benefit
plans to both the employer and the employee.
Yet there was one key fringe benefit
where, because it related directly and beneficially to money income and improved status, little disagreement should have been evident.
A fringe benefit
provided in connection with the performance of services is treated as compensation for the services.
It would have been better to include the fringe benefit
variable in absolute terms, or added the total remuneration variable as a separate independent variable in the regression.
However, the Senate version retains the exemption of P82,000 covering 13th month pay, other bonuses and other fringe benefits
for the employed.