Fringe Benefit Workshop: What's Taxable, How to Report It & How to Avoid the IRS Crackdown
|Date / Time:
Thousands of employers have been snared in the IRS's all-out initiative to increase employment-tax audits—its first such initiative in 25 years. A main target: the tax treatment and reporting of employee fringe benefits.
The IRS says too many employers misunderstand which fringe benefits are taxable and how they should be reported for payroll purposes. That's resulted in a major tax gap, the IRS says. And the agency is on a mission to get that money back from you!
Join us to review your fringe benefits to ensure they comply with federal and state payroll tax regulations. In this timely webinar, Mindy Mayo, an employment tax expert and frequent speaker on this topic, will answer:
Employment taxes make up more than 44% of federal tax collections. And the IRS sees a lot of potential unreported income in employee fringe benefits.
- What is the IRS crackdown focusing on—and how can you stay in compliance?
- What are the potentially excludable fringe benefits you can offer employees? And what record-keeping is necessary to document these benefits?
- How do you compute the value of a "good" or a "service"? And how do you handle the payroll tax consequences for those items considered taxable?
- Which benefits provided to employees are taxable and how are these reported for payroll purposes?
- How do you calculate your exposure to an audit if you have some items that should have been considered wages subject to payroll taxation?
In one case, the IRS hit IBM with a $7.5 million tax bill, saying meal allowances that IBM paid to its employees were taxable. IBM had thought they were a de minimis fringe benefit.
Don't make the same mistake. Learn how to accurately and confidently handle the accounting and reporting of fringe benefits. Join us to stop the guessing game and erase your fear of an IRS or state audit.
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.
|About Webcasts / Audio Conferences / Podcasts:|
Webcasts, audio conferences, and podcasts are presentations that you
attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.
versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without
any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back
at work immediately after the session ends!
And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous
times and to share it with others in your office.
Handout materials and the phone number for live presentations are made available to you prior to the event via email from the
presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
|Licenses / Designations / Educational Credits:||PHR / SPHR Re-Certification Credits|
All US States: 1.25
All US States: 1.5
|About The Provider:
||The HR Specialist family of products helps HR professionals quickly resolve their daily challenges. From state-specific employment law to compensation and benefits, our experts give you the HR advice you need to know.
Whether you're new to HR or an experienced pro - a department of one or 10 - you can trust the practical, plain-English advice from HR Specialist. We'll save you time and headaches by focusing on what you need to know, when you need to know it. That makes you the HR expert your company can rely on and gets you the recognition you deserve.
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|Keywords For This Course:|
fringe benefits, benefits, payroll, compliance, taxes, IRS, legal, pay
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