Executive Compensation - Fringe Benefits Audit Techniques Guide (02-2005)

lll Home | Accessibility | Tax Stats | About IRS | Careers | FOIA | The Newsroom | Site Map | Español | Help Executive Compensation - Fringe Benefits Audit Techniques Guide (02- Search for...2005) within:NOTE: This guide is current through the publication date. Since changes may have occurred after the publication date that would affect the accuracy of this document, no guarantees are made concerning the technical accuracy after the publication date. Advanced Search Tips for successful searching Issue DescriptionCorporate executives often receive extraordinary fringe benefits that are not provided to Home > Businesses other corporate employees. Any property or service that an executive receives in lieu of or in addition to regular taxable wages is a fringe benefit that may be subject to taxation. In 1984, the Internal Revenue Code (“Code”) was amended to include theterm “fringe benefits” i n the definition of gross income found in §61. A fringe benefitCharities & Non-Profits provided in connection with the performance of services, regardless of its form, must be Corporations treated as compensation includible in income under §61.International BusinessesWhether a particular fringe benefit is taxable depends on whether there is a specificPartnershipsstatutory exclusion that applies to the benefit. For example, when §61 was amended to Small Bus/Self-Employedinclude the term “fringe benefits”, §132 was added to provide ...