|Duration: 90 minutes||Speaker: Patrick A. Haggerty, EA|
From training and tuition to insurance coverage, meals and lodging, employer-provided benefits may be valuable perks for employees. There are a number of benefits that can be fully or partially excluded from taxable wages, but the rules for exclusion vary for different benefits and even for different taxes with regard to the same benefit. The rules are complex and can be confusing. In addition, the tax reform provisions of the 2017 Jobs Creation and Tax Act (JCTA) changed the rules for a number of popular benefits. Some benefits which could previously be excluded from employee wages under prior law are now taxable and the for some benefits the employer can no longer deduct some or all of the cost.
In this webinar join expert speaker Patrick A. Haggerty, where he will discuss the regulations and compliance requirements for Substantiation, recordkeeping, taxation and reporting of fringe benefits. He will also provide an overview of common and some uncommon benefits and the rules governing them.
Why You Should Attend:
The rules for certain fringe benefits changed significantly under the Jobs Creation and Tax Act of 2017. This created some new complexities with changes to which benefits might be excluded from employee wages and new limitations on the employer’s ability to use the cost of certain benefits to reduce the employer’s tax liability. The IRS has been stepping up enforcement with regard to fringe benefits and non-compliance with the rules and regulations can lead to costly penalties and fines.
Who Should Attend:
Pat Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, information returns, and accounting.
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