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A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...
For example, suppose that a mobile phone user signs up for a post-paid cell phone plan that costs $40 per month and is allowed a quota of 700 minutes under that plan. If this user were to end up using 750 minutes in a month, then they would be charged an overage fee for the extra 50 minutes.
An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
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The Federal Communications Commission last Friday asked Verizon Wireless why it recently doubled the fees it charges customers when they break their contracts on "smart" phones. In November, the ...
Under US Internal Revenue Service Code § 132(a)(4), “de minimis fringe” benefits provided by the employer can be excluded from the employee’s gross income. [1] “ De minimis fringe” means any property or service whose value (after taking account of the frequency with which the employer provides smaller fringes to his employees) is so small as to make accounting for it unreasonable or ...
A class action lawsuit filed against T-Mobile alleges the company charges a hidden fee by misleading customers since 2004. ... Government Taxes and Fees" section to disguise it as a government ...