In this webinar we will discuss the requirements of the Internal Revenue Code as it relates to certain fringe benefits including relocation, meals and educational assistance. The instructor will provide guidance on how these benefits should or should not be taxed and/or reported.
As a payroll professional you must be able to answer below questions:
When relocation is taxable and when it is not, when it is reportable and when it is not?
When providing meals onsite if the cost of those meals must be considered wages or is it “tax free?”
If the employee pays for the meal does that affect the taxation?
If the employer provides lodging for some of its employees is that considered wages in all cases or does payroll need to determine if the benefit falls into the category of “non-taxable?”
What about educational assistance? Is that still taxable only above a certain dollar amount or did Congress change the rules on it again?
All fringe benefits must be handled correctly but when it comes to benefits that feed, house and educate your employees the taxation rules can sometimes be tricky. However, by correctly taxing these types of benefits, the payroll department can minimize the chance for penalties and interest to be levied against your company or for triggering larger and more intrusive governmental audits.
Why Should You Attend:
Complying with the Internal Revenue Tax Code requirements and federal regulations for fringe benefits that fall into the categories of relocation, meals, lodging and educational assistance can be complicated. The taxation and reporting of these fringe benefits offered by many companies today are major components of a payroll department’s responsibilities. And with the IRS looking for consistency of treatment - you can’t afford to make a mistake.As a payroll professional you must be able to answer below questions:
When relocation is taxable and when it is not, when it is reportable and when it is not?
When providing meals onsite if the cost of those meals must be considered wages or is it “tax free?”
If the employee pays for the meal does that affect the taxation?
If the employer provides lodging for some of its employees is that considered wages in all cases or does payroll need to determine if the benefit falls into the category of “non-taxable?”
What about educational assistance? Is that still taxable only above a certain dollar amount or did Congress change the rules on it again?
All fringe benefits must be handled correctly but when it comes to benefits that feed, house and educate your employees the taxation rules can sometimes be tricky. However, by correctly taxing these types of benefits, the payroll department can minimize the chance for penalties and interest to be levied against your company or for triggering larger and more intrusive governmental audits.
Areas Covered in the Webinar:
- The taxation pitfalls of company relocation and how to avoid them
- When can an employer pay for relocation
- What must be taxed when relocating an employee and what must only be reported
- On-site lodging taxation and reporting
- Taxing lodging for executives such as vacation condos
- Providing meals for employees - is it taxable or not?
- Are the rules different for on-site cafeterias
- What if the employee pays for the meal - does that affect taxation
- What to do with occasional meals
- Educational assistance programs and taxation
Who Will Benefit:
- Payroll professionals
- Human Resources
- Accounting Personnel
- Business Owners
- Lawmakers
- Attorneys
- Tax Professional
Course Provider
Vicki M. Lambert,
