Workers' Comp: Legal Issues and Best Practices

IRS launches its biggest audits of fringe benefits in 25 years!

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Fringe Benefit Workshop: What's Taxable, How to Report It & How to Avoid the IRS Crackdown

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!

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Now is an excellent time to review your fringe benefits to ensure they comply with federal and state payroll tax regulations. In this timely session, Mindy Mayo, an employment tax expert and frequent speaker on this topic, answers:

  • 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?

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.

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, and erase your fear of an IRS or state audit.

Sincerely,
Pat DiDomenico
Pat DiDomenico
Editorial Director, HR Specialist

P.S. Your satisfaction is unconditionally guaranteed. If Fringe Benefit Workshop fails to meet your needs, we will refund every penny you paid — no hassles, no questions asked.

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 Hear a Free 90-Second Clip of
Fringe Benefit Workshop
from Mindy Harada Mayo :

About Your Speaker:

Mindy Harada Mayo is an employment tax specialist with more than 20 years of experience as an employee of two of the Big Four accounting firms and a payroll tax auditor with the state of California. She is currently a director with the Human Capital Tax Practice at Ryan, LLC. Ryan is an award-winning global tax services firm with the largest indirect tax practice in North America. Mindy is a frequent presenter around the country on employment tax and compensation issues.

Who Should Listen:

  • Accounting department
  • HR professionals
  • Supervisors and managers
  • Executives
  • Office managers
  • Business owners

Credit Hours:

This recording has been approved for 1.25 credit hours toward PHR and SPHR recertification through the Human Resource Certification Institute (HRCI).

"The use of this seal is not an endorsement by HR Certification Institute of the quality of the program. It means that this program has met HR Certification Institute's criteria to be pre-approved for recertification credit."

This recording is sponsored by:
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