In this session, participants will gain a comprehensive understanding of the IRS perspective on fringe benefit taxation. We will delve into the intricate details of Internal Revenue Code (IRC) exceptions permitted by the IRS, providing clear explanations to participants.

As companies increasingly offer a diverse range of fringe benefits to enhance employee morale and reduce overall costs, it becomes imperative to navigate the IRS regulations governing the taxability of these benefits. The IRS has established specific guidelines for determining which fringe benefits are taxable and which are not. Understanding the intricacies of these regulations is crucial, as seemingly non-taxable items can become taxable based on how and when they are provided.

By the end of the session, participants will be equipped with the knowledge to better identify and calculate the fair market value of fringe benefits for taxation purposes. This insight will empower them to navigate the complex landscape of IRS regulations, ensuring compliance and informed decision-making in the realm of fringe benefit taxation.

Key areas:-

· Discussion on No additional cost services, employee discounts, working condition fringe benefits & De minimis Fringe Benefits.

· Review qualified transportation benefits

· Discuss several excludable fringe benefits such as Retirement planning, athletic facilities, achievement awards etc.

· Discuss fringe benefits that should be taxable

· Review Moving/Relocation Expenses

· Review executive taxation items, like spousal travel. Company aircraft usage etc.

· Once a benefit is determined taxable, how to handle it

· Brief overview of how to handle any fringe benefits that AP pay.

· Annual Fringe Benefit limits will be reviewed

· IRS rules for taxation of Fringe Benefits

· How to calculate the value of a noncash fringe benefit

· Review of excludable fringe benefits

· Details of how the tax cuts and jobs act impacted fringe benefits

· Procedures for recording fringe benefits

· Year end best practices for fringe benefit taxation

· Review FMV (Fair Market Value) and how the IRS determines it.

Who Should Attend:-

· Human Resources Executives/Managers/Administrators

· Accounting Personnel

· Business Owners/Executive Officers/Operations and Departmental Managers

· Lawmakers

· Attorneys/Legal Professionals

· Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues

Instructor

Dayna Reum

Payroll Expert

Dayna is currently the Director of Payroll Operations at Ann & Robert Lurie Children’s Hospital of Chicago. Dayna has been heavily involved in the payroll field over 17 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures. Dayna is no stranger to teaching she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics including Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, International and Canadian payroll. Dayna has her CPP (Certified Payroll Professional) through the APA. She also serves on the National American Payroll Association on the National Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee). Dayna has received a Citation of Merit for her service along with being a Gold Pin member of the APA. Besides her payroll accomplishments Dayna is certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.

Credits

Opty learn is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities.

Frequently Asked Questions

Live training course/ webinar is an Online training seminar which you can access through your computer and laptop or phone and directly interact with our expert speaker and allow to ask questions during the Live webinar. Conference material used by our speaker to the Live webinar will be provide with your Instruction kit before the Training.

Recorded webinars or On-Demand are self-paced audio-visual training program that you can watch at your own pace to earn Continuing Education Units (if applicable). Online, recorded training courses are accessible whenever you choose, for an unlimited number of times. Additionally, you have three months from the purchase date to watch as many times as you like. After a live training or webinar has started, you will receive the instructions and link to access the recorded training course. If it has already been recorded, you can access it right away.

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IRS Taxation Rules for Fringe Benefits - 2024 Employer Guide

Course Type	HR & Payroll
Date & Time	Aug 1st 2024 01:00 PM ET
Duration	60 Minutes
Instructior	Dayna Reum

Purchase Options

Recorded
Recorded session is a recorded format of live webinar which you can access anytime at your convenience without any time limit.

$ 155
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E-transcripts is a text version of a live webinar which you will get in pdf format.

$ 155

Recorded + E-transcript
Recorded session is a recorded format of live webinar which you can access anytime at your convenience without any time limit. E-transcripts is a text version of a live webinar which you will get in pdf format.

$ 165

Recorded with Copyright
E-transcripts is a text version of a live webinar which you will get in pdf format. Copyright is a recorded session which you can share with your colleagues.

$ 185

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