Fringe benefits, including transportation fringe benefits, are an integral part of a compensation package for employees today. When determining what fringe benefits should be provided, the first question that usually arises is "how are we going to do it". Nonetheless, your task doesn't stop once that question is answered and the fringe benefit is provided. When providing transportation fringe benefits the very next question that must be answered before that employee starts that new car, pulls into the parking space or hops on the bus is---what are the IRS taxation and reporting requirements?
The Internal Revenue Code has strict guidelines on the taxation and reporting of transportation fringe benefits that must be adhered to in order to avoid audits and penalties. The definition of transportation fringe benefits ranges from providing a company car, paying for bus passes and parking spots to providing a bicycle and may even include the time spent on a private company plane. Additionally, the taxation requirements can be just as varied-from no taxation to the required use of algebraic formulas.
This session by expert speaker, Vicki Lambert, CPP, will give you a detailed understanding of transportation fringe benefits and IRS taxation and reporting requirements to achieve payroll compliance in your organization.
This webinar will discuss the taxation of different types of fringe benefits related to transportation, including:
Who should attend?
Vicki M. Lambert CPP
Vicki M. Lambert, CPP is President and Academic Director of The Payroll Advisor™ a firm specializing in the training of payroll professionals. With over three decades of hands-on experience in all facets of payroll functions as well as over 20 years as a trainer and author, Ms. Lambert is a sought-after ... More info