de minimis fringe 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

• 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

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

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

• Code of Federal Regulations - Title 5: Administrative Personnel

• 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

• American Airlines, Inc., Plaintiff-Appellant, v. United States, Defendant-Appellee., 204 F.3d 1103 (Fed. Cir. 2000)

... allowances qualify as a working condition fringe benefit because the court correctly held that they... that it treated the vouchers as a de minimis fringe benefit not subject to withholding based on..., as "working condition" fringe benefits. See American Airlines, 40 Fed. Cl. at 717. Americ...

• Federal Circuits

• Rewarding employee achievement.

Employers have been able to exclude certain achievement awards from income if they fit specific guidelines, established in 1987. Tangible personal property given as a length-of-service or safety award from an employer to an employee and de minimis fringe benefits are excluded. In addition, a non-discriminatory qualified employee-achievement award program can distribute excluded awards. However, the exclusion is limited to the part per employee covered by the employers deduction, any amount above is included in the income.

• Journal of Accountancy
• Vol. 173 Nbr. 5, May 1992

• Rev. Proc. 2004-29

provides the statistical sampling methodology by which a taxpayer may establish the amount of meal and entertainment expenses excepted from the 50% deduction disallowance of Section 274(n)(1).

... recipient under § 132(e) (relating to de minimis fringe benefits excluded from income under § 132(...

• United States. Internal Revenue Bulletin
• July 30, 2009

• Case study: providing fringe benefits to S corporation employees.

... discounts, working condition fringes, de minimis fringes, qualified retirement planning services, a...

• The Tax Adviser
• Vol. 42 Nbr. 12, December 2011