Employers provide many benefits for their employees, of which most are not considered taxable income. However, there are a few items that are taxable and can sometimes slip under the radar. For example, is your Accounts Payable (AP) office reimbursing employees for items on an expense report and know which items could have tax consequences? Does your organization provide relocation benefits? Is AP reimbursing for non-qualified items? Your obligation in Payroll is to have a clear communication path to your AP department to capture items that you may have to post on your W2 filings. An IRS Audit could cost thousands of dollars in penalties and taxes for tax errors!
Join us as we walk through the various types of benefits and how to properly tax fringe benefits.
At the end of this webinar you will be able to:
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