In Legal Terms: Fringe Benefits Taxed

In Legal Terms · Feb 5, 2020 · 46m

If your employer provides a benefit to you it might be taxed.

https://www.irs.gov/publications/p15b Are Fringe Benefits Taxable?

Any fringe benefit you provide is taxable and must be included in the recipient's pay unless the law specifically excludes it. Section 2 discusses the exclusions that apply to certain fringe benefits. Any benefit not excluded under the rules discussed in section 2 is taxable.

Question from a caller: If you receive proceeds from settlement of a lawsuit, you may have questions about whether you must include the proceeds in your income. . …