News & Analysis as of

Reimbursements Fringe Benefits

Ogletree, Deakins, Nash, Smoak & Stewart,...

Illinois Employers Required to Provide Public Transit Benefits in 2024

Many employers with at least fifty employees in the six-county Chicago area will have to provide their full-time employees with pre-tax public transit benefits starting January 1, 2024, under a new Illinois law....more

Epstein Becker & Green

Time Is Money: A Quick Wage-Hour Tip on … Recovering Amounts Owed by a Departing Employee: You Know You Probably Cannot Deduct...

Epstein Becker & Green on

In employment, as in life generally, breaking up can be hard to do. This is particularly so when a departing employee owes the employer money. Most employers understand that applicable law often prohibits simply deducting...more

Seyfarth Shaw LLP

Malfunctioning Transit Passes – Timing is Everything

Seyfarth Shaw LLP on

Seyfarth Synopsis: Many employers maintain a tax-preferred transportation fringe benefit plan to provide tax-free transit benefits to employees. Under such plans, the benefit is often distributed in the form of an electronic...more

Snell & Wilmer

Tax Cuts and Jobs Act: Implications for Health and Welfare Plans and Fringe Benefits

Snell & Wilmer on

On December 22, 2017, the Tax Cuts and Jobs Act (“the Act”) was signed into law, and it has various implications for employers who sponsor employee benefit plans. This newsletter focuses on the provisions in the Act that...more

Akin Gump Strauss Hauer & Feld LLP

President Trump Signs Tax Reform Bill into Law

On December 15, 2017, the House and Senate conference committee agreed on the terms of the final tax reform bill, previously referred to as the “Tax Cuts and Jobs Act” (the “Act”), which was subsequently approved by both...more

Mintz - Employment Viewpoints

The Impact of the Tax Cuts and Jobs Act on Employee and Fringe Benefits

The Tax Cuts and Jobs Act makes some notable, though targeted, changes to the employee benefits landscape. We summarize some of the more significant changes in the Question and Answers set out below....more

Ruder Ware

IRS Encourages Self-Assessment to Identify Fringe Benefit Errors

Ruder Ware on

As much as I love tax law, filling out another tax form isn’t high on my list of fun things to do. So when the IRS issues a form that isn’t legally required to complete, should you? If you are an employer that provides one or...more

Dickinson Wright

Structuring A Parking Reimbursement Plan As A Taxable Or Tax-Free Fringe Benefit

Dickinson Wright on

In Information Letter 2017-0007, the IRS analyzed an employer’s parking reimbursement arrangement and concluded that it was not a tax-free fringe benefit. ...more

BCLP

New IRS Memo Confirms Tax Treatment of Wellness Programs & Incentives

BCLP on

In a recently released IRS Chief Counsel Memo, the IRS confirmed that wellness incentives are generally taxable. The memo also, indirectly, confirmed the tax treatment of wellness programs more generally....more

FordHarrison

New York City Transit Benefit Requirement Fast Approaching

FordHarrison on

As most New York City employers know by now, beginning January 1, 2016, the New York Mass Transit Benefits Law (the "ordinance") requires employers with twenty or more full-time employees working in New York City to offer...more

Dorsey & Whitney LLP

Immediate Action Required for Employers that Provided Transit Benefits to Employees in 2014

Dorsey & Whitney LLP on

On December 19, 2014, President Obama signed the Tax Increase Prevention Act of 2014 (“TIPA”), which in part retroactively increases the monthly limit for employer-provided transit benefits to $250 from $130 (the same...more

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