Fringe Benefit Guide for Government Entities available here.
The IRS provides a helpful reference guide for governmental entities on the basic tax rules for employee fringe benefits and reporting. This document can be helpful to all employers that provide employee fringe benefits as it covers such issues as;
- How to determine whether specific types of benefits or compensation are taxable;
- Procedures for computing the taxable value of fringe benefits;
- Rules on tax withholding; and
- Reporting the taxable value of benefits on Form W-2 and Form 1099-MISC
The guide also explains numerous types of employee benefits such as automobiles, meals, lodging, dependent care, moving expenses, awards, prizes and more.
To discuss the guide or other fringe benefit issues, please contact a Smolin professional at 973-439-7200.