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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.
An employer-paid bicycle commuter benefit qualified between January 1, 2009, and December 31, 2017. [2] [17] Provision of tax-free qualified transportation fringe benefits to employees on or after January 1, 2018 is not tax-deductible to the employer as an ordinary business expense. [18]
A fringe benefits tax (FBT) is taxation of most, but not all fringe benefits, which are generally non-cash employee benefits. [1] The rationale behind FBT is that it helps restore equity and fairness to those employees who do not receive such benefits, and allows a Federal Government to more fairly assess taxpayer entitlement to government benefits, or liability to government taxes or levies.
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the value of the benefit; the administrative impracticality. [4] De minimis fringe is defined in Internal Revenue Code section 132(e)(1) as any property or service given to an employee by the employer whose value, after taking account of the frequency provided, is so small as to make accounting for it unreasonable or administratively ...
Some fringe benefits (for example, accident and health plans, and group-term life insurance coverage up to $50,000) may be excluded from the employee's gross income and, therefore, are not subject to federal income tax in the United States. Some function as tax shelters (for example, flexible spending, 401(k), or 403(b) accounts).
VA.gov The United States secretary of veterans affairs is the head of the United States Department of Veterans Affairs , the department concerned with veterans' benefits, health care, and national veterans' memorials and cemeteries.
The Veterans Benefits Administration has been in existence since the creation of the Department of Veterans Affairs in October 1988, when it was led by a chief benefits director. [1] In 1994, the title was changed to Under Secretary of Veterans Affairs for Benefits. [2] Under Secretary Allison A. Hickey resigned in October 2015. [3]