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Fringe Benefits Blitz: Taxing and Reporting Fringe Benefits

Instructor: Vicki M. Lambert
Product ID: 705447
  • Duration: 90 Min
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Read Frequently Asked Questions

This webinar will focus on requirements for taxation and reporting of employee fringe benefits including transportation fringe benefits, section 132 fringe benefits, meals, clothing, housing and education fringe benefits, and third party sick pay. It will also provide best practices to comply with IRS taxation and reporting requirements.

Course "Fringe Benefits Blitz: Taxing and Reporting Fringe Benefits" has been pre-approved by HRCI as eligible for 1.5 credits towards a participant's recertification upon full completion.
“The use of this seal is not an endorsement by the HR Certification Institute of the quality of the program”.

Why Should You Attend:

Fringe benefits are an integral part of a compensation package for employees today. When determining what fringe benefits to provide the first question that usually arises is “how are we going to do it”. But your task doesn’t stop once that question is answered and the fringe benefit is provided. Now you must understand what the IRS taxation and reporting requirements are?

All fringe benefits must be handled correctly to minimize the chance for penalties and interest to be levied against your company or for triggering larger and more intrusive governmental audits.

Complying with the Internal Revenue Tax Code requirements and federal regulations for fringe benefits such as relocation, meals, lodging, educational assistance, health insurance, transportation and third party sick pay can be complicated. The taxation and reporting for 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 know cold—no guessing—when a fringe benefit is taxable and when it is not, when it is reportable and when it is not. Payroll must know when providing a fringe benefit must be considered wages or if it is “tax free”. What if the employee pays some of the cost of a fringe benefit? How does that affect taxing and reporting? Are there dollar limits? Does it become taxable after a certain amount?

This webinar will provide answers to all these questions and more.

Areas Covered in the Webinar:

  • Transportation Fringe Benefits
    • What are the four allowable methods to calculate the personal use of a company car
    • How to calculate the taxable wages for the personal use of a company vehicle using one of the four accepted IRS methods
    • When an auto allowance is considered taxable wages and when it is not
    • IRS 132 transportation fringe benefits including parking, bus passes and tokens and bicycles—when to tax and when not to—what are the limits
    • Calculating the personal use of a company aircraft even if there is a business trip involved somewhere
  • Section 132 Fringe Benefits
    • 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
  • Meals, Clothing, Housing and Education Fringe Benefits
    • 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
  • Third Party Sick Pay
    • What is third party sick pay
    • When is the third party not the employer’s agent and when are they
    • How does the status of the employer’s agent affect the taxation and reporting of third party sick pay
    • When is third party sick pay taxable for income tax
    • When is third party sick pay taxable for FICA and FUTA
    • When is third party sick pay nontaxable
    • Who reports the payments for third party sick pay for such forms as the 941 and W-2
    • The latest version of IRS Third Party Sick Pay form
    • What happens to the taxation if the employee pays a portion of the premium

Who Will Benefit:

  • Payroll Professionals
  • Human Resources Personnel
  • Accounting Personnel
  • Business Owners
  • Lawmakers
  • Attorneys
  • Any individual or entity that must deal with the complexities and requirements of processing fringe benefits in a payroll department
Instructor Profile:
Vicki M. Lambert

Vicki M. Lambert
Payroll Authority and Instructor, The Payroll Advisor

Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. With over 35 years of hands-on experience in all facets of payroll functions as well as over 20 years as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.

A pioneer in electronic and online education, Ms. Lambert produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. Ms. Lambert is an adjunct faculty member at Brandman University in Southern California and is the creator of and instructor for their Practical Payroll Online program, which is approved for recertification hours by the APA. She is also the Program Developer, Subject Matter Expert (SME), and Facilitator for the Certificate in Payroll Practice and Management Program offered by Cengage Learning / Ed2Go through hundreds of colleges and universities across the country.

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

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