Fringe Benefits Toolkit
A collection of resources to assist employers in complying with the requirements for various fringe benefits under the Internal Revenue Code and other laws.
A fringe benefit is a form of pay other than traditional compensation for the performance of services. In general, fringe benefits are taxable to the individual to whom they are provided, and must be included in the individual's income unless specifically excluded. The Internal Revenue Code ( www.practicallaw.com/2-382-3555) (Code) provides special exclusion rules for a number of fringe benefits, including:
Adoption and educational expenses.
Moving expense reimbursements.
Excluded benefits typically are not:
Subject to federal income tax withholding.
Subject to Social Security, Medicare or FUTA ( www.practicallaw.com/3-502-7583) taxes.
Reported on Form W-2.
The Fringe Benefits Toolkit includes several continuously updated resources designed to help employers comply with requirements under the Code and other laws applicable to fringe benefits.