Companies are providing more fringe benefits to employers more than ever before, thus reducing company cost but raises employee morale. Due to market adjustments employers are looking for ways to obtain top talent through providing more fringe benefits. However, IRS endorsement on employers to tax employees when appropriate for fringe benefits is on the rise. Employers must meet the non-taxable fringe benefit substantiation rules along with proper determination of taxation. Review of OBBBA Fringe benefit updates will be reviewed.
Participants will walk away with a better understanding of the IRS view on fringe benefit taxation. The details of the IRC exceptions allowed by the IRS will be detailed and explained to participants. Participants will be able to better identify and calculate the fair market value of fringe benefits for taxation purposes
Dayna is currently the Senior Director of Payroll & HRIS at a major medical Center in Chicago. Dayna has been heavily involved in the payroll field over 17 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures.