Investopedia

Continue to Site »

IRS Publication 15-B - Employer's Tax Guide to Fringe Benefits

Filed Under » , , , , , ,
Dictionary Says

Definition of 'IRS Publication 15-B - Employer's Tax Guide to Fringe Benefits'

A document published by the Internal Revenue Service that provides employers with guidance on how to account for fringe benefits when filing tax documents. Fringe benefits are non-cash benefits provided to persons who perform services to a business, and can include perks such as the use of a company car. For employees, the value of any fringe benefit is reported on the W-2. For non-employees, the value of benefits should be reported on Form 1099-MISC or Schedule K-1.
Investopedia Says

Investopedia explains 'IRS Publication 15-B - Employer's Tax Guide to Fringe Benefits'

Fringe benefits are considered taxable items by the IRS, but there are exceptions. Some cafeteria plan benefits, typically those involving health care for employees, are still considered to be pre-tax (and thus exempt from income tax withholding) provided that the receiving employee is not highly-compensated or a key person in the company.

Articles Of Interest

  1.

    IRA Contributions: Deductions and Tax Credits

    We outline the incentives and help you take full advantage of the benefits.

  2. Deducting Your Donations

    Generosity may be its own reward, but some charitable giving also provides personal tax benefits.

  3. Benefit Issues When Your Employer Goes Bankrupt

    There are some safeguards in place to ensure that health benefits don't just disappear when a plan is canceled.

  4. Changes In Tax Legislation And Regulation

    Keeping on top of these amendments can help you avoid penalties and take advantage of benefits.

  5. Broker Commissions Are Here To Stay

    With two developed nations adopting a firm anti-commission stance, questions have arisen over whether or not the United States should follow suit. Find out why such a development is unlikely.

  6. 10 Great Summer Jobs For Teens

    There are a lot of summer jobs out there, find out what's available, how much it costs and what skills you need.

  7. Has Income Tax Become A Class Tax On The Poor?

    With more than 33% of American families falling close to the poverty line despite their adult members holding full-time employment, a rising number of citizens are being forced to pay a rate ...

  8. Possible Effects Of The Online Retail Tax

    The U.S. Senate has passed a bill that will impose a sales tax on online retailers. Discover how the Marketplace Fairness Act could affect your bottom line.

  9. An Introduction To The Keogh Retirement Plan

    Learn more about this popular defined-contribution retirement plan that many business owners, proprietors, and self-employed people can benefit from.

  10. How To Get The Most Out Of Hiring An Accountant

    When you hire an accountant, getting good tax advice going forward is as valuable as – or perhaps even more valuable than - getting the previous year’s taxes filed correctly. Learn what you need ...
comments powered by Disqus
Marketplace
Hot Definitions

  1. Validation Period

    The amount of time necessary for the premium on an insurance policy to cover the commissions, the cost of investigation, medical exams and other expenses associated with the issuance of the policy.

  2. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  3. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  4. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  5. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  6. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.
Trading Center