A fringe benefit is a form of pay for the performance of services. For example, you provide an employee with a fringe benefit when you allow the employee to use a business vehicle to commute to and from work. Although generally voluntary, some of the most important “fringe” benefits have actually come to be expected from employees. These major types of fringe benefits include health insurance, retirement plans and paid time off. Information regarding these benefits is covered in the Health Insurance, Retirement Plans and Leave and Time Off sections. Fringe benefits covered in this section include:
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Are Fringe Benefits Taxable?