Each course must individually qualify as a working condition fringe benefit to qualify for the exclusion from income. What is a working condition fringe benefit?Ī working condition fringe benefit is an expense that would be deductible as an employee business expense if paid for by the employee. Amounts paid to employees for relocation in excess of actual expenses.A benefit provided on behalf of an employee is taxable to an. Frequent-flyer miles earned during business use, converted to cash. additional education expenses exceeding 5,250 may be excluded from tax under IRC section 132. Certain fringe benefits on Westlaw FindLaw Codes are provided courtesy of Thomson Reuters Westlaw, the industry-leading online legal research system.
IRC 132 CODE
Group-term life insurance in excess of $50,000. Internal Revenue Code Section 132(c) Certain fringe benefits.The value of the personal use of an employer-provided vehicle.In this regard, what are examples of taxable fringe benefits?Įxamples of taxable fringe benefits include: Likewise, what is qualified parking? Qualified parking is parking provided to employees on or near the business work premises, or parking on or near a location from which employees commute to work by commuter highway vehicle mass transit, or van pool. § 132(a) Exclusion From Gross Income - Gross income shall not include any fringe benefit which qualifies as a-Ī fringe benefit is a form of pay (including property, services, cash or cash equivalent) in addition to stated pay for the performance of services.