Smart Benefits: IRS Updates Employer Guidance for Fringe Benefits

Monday, June 04, 2018
Rob Calise, GoLocalWorcester Business/Health Expert

IRS Publication 15-B includes new updates that impact the employment tax treatment of fringe benefits. The 2018 version of the guide features several changes resulting from the new tax law and other regulatory guidance, including:

  • The suspension of the exclusion of qualified bicycle commuting reimbursements from an employee’s income for tax years starting after December 31, 2017, and before January 1, 2026.
  • The suspension of the exclusion for qualified moving expense reimbursements from an employee’s income for tax years starting after December 31, 2017, and before January 1, 2026, except for active duty servicemembers moving because of a permanent change of station.
  • Limits on the deduction by employers of expenses for certain fringe benefits, such as employer-provided meals.
  • Definitions of items that aren’t tangible personal property for purposes of employee achievement awards.

View the complete guide here.

Rob Calise is the Managing Director, Employee Benefits of The Hilb Group of New England, where he helps clients control the costs of employee benefits by focusing on consumer-driven strategies and on how to best utilize the tax savings tools the government provides. Rob serves as Chairman of the Board of United Benefit Advisors, and is a board member of the Blue Cross & Blue Shield of RI Broker Advisory Board, United HealthCare of New England Broker Advisory Board and Rhode Island Business Healthcare Advisors Council. He is also a member of the National Association of Health Underwriters (NAHU), American Health Insurance Association (AHIA) and the Employers Council on Flexible Compensation (ECFC), as well as various human resource associations. Rob is a graduate of Bryant University with a BS in Finance

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