Training Course Syllabus:

Fringe Benefits: Section 132 and Beyond Webinar

This webinar discusses the proper taxation, if any for many of the various fringe benefits offered under Internal Revenue Code 132 and beyond. This includes such items as cell phones, prizes and awards, holiday gifts, employee discounts, small (De Minimis) cash and noncash items and employee achievement awards.

Proper taxation of benefits is vital to stay in compliance and avoid audits. Even small items paid out of accounts payable could end up being taxable and reportable. And if they are not taxed and reported it could lead to audits by the IRS. Learn what is and is not considered De Minimis and what is always taxable and exactly how to handle benefits under Section 132.

Why Should you Attend:

Fringe Benefits are important component for recruiting and keeping high quality employees. But offering those benefits may also bring complex situations regarding taxation and compliance. Employers that don’t know...or think they know...how to properly tax and report fringe benefits often bring serious financial consequences upon themselves and their companies.

All fringe benefits including the simple ones must be handled correctly. And by being correct, you minimize the chance for penalties and interest to be levied against your company or for triggering larger and more intrusive governmental audits.

Another area of concern is often when the employer gives an employee a non-cash prize for employee of the month or a gift card during the holidays. These items too are considered benefits and must be properly taxed (or not taxed) by the employer.

Objectives of the Presentation:

This webinar aims at providing a better understanding of the 2015 IRS regulations for determining the taxation and reporting of the following fringe benefits offered under Section 132 of the Internal Revenue Code and beyond.

• Working Condition Fringe Benefits


• De Minimis Fringe Benefits


• Employee Discounts


• No additional cost services


• Employee Achievement Awards for Length of Service and Safety


• Prizes and Awards—Cash and Noncash


• Cell phones


• Gift certificates and gift cards


• Holiday gifts

Seminar Summary:

All Payroll professionals must learn about proper taxation, various fringe benefits offered under Internal Revenue Code 132 and beyond. (see full course description)

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