de minimis benefits

• De minimis fringe benefits.

Brief Article

• Journal of Accountancy
• Vol. 179 Nbr. 2, February 1995

• Nonmonetary recognition awards with $100 FMV were not de minimis fringe benefits.

Fair market value - IRS Letter Ruling

• The Tax Adviser
• Vol. 32 Nbr. 5, May 2001

• 2011 Generalized System of Preferences (GSP) Product Review: Inviting Public Comments on Possible Actions Related to Competitive Need Limitations

The Office of the United States Trade Representative (USTR) will accept public comments submitted by April 6, 2012, regarding: (1) Potential revocation of competitive need limitations (CNL) waivers; (2) possible de minimis CNL waivers; and (3) possible redesignations of articles currently not eligible for GSP benefits because they previously exceeded the CNL thresholds. Full 2011 calendar year import statistics relating to CNLs under the Generalized System of Preferences (GSP) program are now available.

• Federal Register Nbr. 77 FR 15839, March 16, 2012
• Notices
• Trade Representative Office of the United States

• De Minimis Fringe Benefit Rules: Current Guidance and Tax Implications

The de minimis fringe benefit is a popular employer-provided fringe benefit. Treasury Regulations section 1.132-6(e)(1) gives numerous examples of allowable de minimis fringe benefits. Treasury Regulations section 1.132-6(e)(2) also provides examples of fringe benefits to which the de minimis rules do not apply. According to Treasury Regulations section 1.132-6(d)(4), where the benefit is too valuable or is provided too frequently, then the benefit will not qualify as a de minimis fringe benefit. In addition, the frequency with which an employer provides similar benefits to its employees affects whether the benefit constitutes a de minimis fringe benefit. As a general rule, for purposes of IRC section 132, cash provided by an employer to an employee does not constitute a de minimis frin...

• CPA Journal, The
• Vol. 76 Nbr. 4, April 2006

• De minimis and working condition fringe benefits reexamined.

In American Airlines, Inc., 204 F3d 1103 (2000), aff'g and rev'g 40 Fed. Cl. 712 (1998), the Federal Circuit agreed with a Court of Federal Claims rul...

• The Tax Adviser
• Vol. 31 Nbr. 7, July 2000

• Entergy Corp. v. Riverkeeper, Inc., 556 U. S. ____ (2009)

... those costs and the environmental benefits produced governs if it is a reasonable interpretat... to situations where the benefits are de minimis rather than significantly disproportionate. Pp. 9�...

• U.S. Supreme Court

• Exceptions to limitation on meal and entertainment expenses.

Exceptions to the deduction disallowance for business meals and entertaining under IRC section 274(n) have become more significant since the disallowance percentage was increased from 20% to 50%. Fully deductible expenses include promotional food and entertainment given to the general public, expenses that the employer is treating as compensation for withholding and social security tax purposes, de minimis fringe benefits, employee recreational activities and food and entertainment expenses for taxpayers in the business of providing such goods and services.

• The Tax Adviser
• Vol. 26 Nbr. 7, July 1995

• 29 CFR 4041.24 - Notices of plan benefits.

... of persons with valid elections or de minimis benefits. For an affected party who, as of the pro...

• Code of Federal Regulations - Title 29: Labor

• Charitable contributions.

Proposed regulations released by the IRS under IRC section 170A clarify certain substantiation issues faced by taxpayers that receive membership benefits from charitable organizations to which the taxpayers contributed. De minimis levels have been set for goods and services received by the donor, and benefits received for membership donations of $75 or less need not be substantiated. The IRS has also established guidelines for the deduction of unreimbursed expenses incurred in providing services to charitable organizations.

• Journal of Accountancy
• Vol. 180 Nbr. 5, November 1995

• 5 CFR 831.1209 - Termination of disability annuity because of restoration to earning capacity.

... purchase of non-taxable employee fringe benefits. Thus, any earnings for which the individual has t...(x) De minimis fringe benefits, such as items of merchandise give...

• Code of Federal Regulations - Title 5: Administrative Personnel