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Course Details

Basic Fringe Benefits - Mini Course (Course Id 822)

Updated / QAS / Registry / EA
  Add to Cart 
Author : Danny C Santucci, JD
Course Length : Pages: 35 ||| Review Questions: 23 ||| Final Exam Questions: 20
CPE Credits : 4.0
IRS Credits : 4
Price : $35.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents
Technical Designation: Technical
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 822

Description :

This course is an overview of basic fringe benefits and examines their mechanics, compensation methods, valuation, withholding, and accounting. Achievement awards, term life insurance, medical reimbursement, meals & lodging, educational assistance, dependent care, employer-provided automobiles, interest-free loans, etc. are identified. Employer and employee economic and tax considerations are recognized. Fringe benefit requirements and limits are specified and ERISA compliance requirements are determined. 

Usage Rank : 20769
Release : 2023
Version : 1.0
Prerequisites : General understanding of federal income taxation.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 05-Jul-2023
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents - 822

Keywords : Taxes, Basic, Fringe, Benefits, Mini, Course, cpe, cpa, online course
Learning Objectives :

As a result of studying each assignment, you should be able to meet the objectives listed below each assignment.


      At the start of the materials, participants should identify the following topics for study:

    * Benefit mechanics
    * Employee achievement awards
    * Group term life insurance
    * Self-insured medical reimbursement plans
    * Medical insurance
    * Meals & lodging
    * Cafeteria plans
    * Employer-provided automobile
    * Adoption assistance program
    * Interest-free & below-market loans
Learning Objectives:

      After reading the materials, participants will be able to:
    1. Recognize basic fringe benefit planning by determining “income” under §61, and identify the differences between former nonstatutory and current statutory fringe benefits created by recent cases, rulings, and tax law changes.
    2. Specify the mechanics of typical fringe benefits, determine the fair market value of a fringe benefit under the general valuation rule or the special valuation rules, and identify the general accounting rule and the special two-month pour-over accounting rule.
    3. Identify an “employee achievement award” under §274, and recognize the rules for group term life insurance under §79 stating how to implement proper coverage.
    4. Determine the mechanics of self-insured medical reimbursement plans under §105, and specify the requirements of medical insurance under §106 identifying differences.
    5. Identify the rules for excluding the value of meals and lodging under §119, and “cafeteria plans” and how they operate.
    6. Recognize the requirements and limits of employee educational assistance programs and dependent care assistance specifying how to obtain each type of assistance.
    7. Identify “no-additional-cost services” and determine what property or services are excludable from income as qualified employee discounts under §132(c), and specify exceptions to working condition fringes and de minimis fringes.
    8. Determine the requirements for qualified transportation fringe benefits under §132(f), specify valuation methods for employer-provided automobiles, and identify the qualifications for the popular physical fitness exclusion, and the requirements and benefits of adoption assistance programs.
    9. Recognize planning services available under §§132, 212, and 67, determine interest-free and below-market loans, identify child care benefits and corporate-funded educational savings accounts, specify S corporation fringe benefits, and identify ERISA compliance requirements.
Course Contents :

Chapter 1 - Basic Fringe Benefits



Definition of Income - §61

Deductions without Taxable Income

Benefit Mechanics

Old Dichotomy - Statutory v. Nonstatutory

Fringe Benefit Provisions

TRA ‘84 - §132


Only Statutory Benefits Remain

General Valuation Rule

Fair Market Value

Special Valuation Rules

Restrictions on Special Valuation Rules

Withholding & Accounting

General Accounting Rule

Special 2-Month Pour-Over Accounting Rule

Same-Sex Marriage

Types of Benefits

Employee Achievement Awards - §74(c) & §274(j)


Definition of Employee Achievement Awards

Tangible Personal Property

Employer Deduction Limits

Aggregation Limit

Special Partnership Rule

Employee Impact

Group Term Life Insurance - §79

Monthly Cost Table

Family Member Cost

Employment Taxes

Group Requirements


Permanent Benefits

Discriminatory Plan


Type & Amount of Benefits

Key Employee

Self-Insured Medical Reimbursement Plans - §105

Allowable Expenses





Medical Insurance - §106

Group Health Plan Restrictions - COBRA

Coverage Requirement

Continuation Requirement

American Recovery & Reinvestment Act


Continuation Period


Meals & Lodging - §119

Convenience of Employer

Substantial Nonpay Reasons

Meals with a Charge

Lodging Required by Employer

Highly Compensated Employees

50% Limit on Meals

Cafeteria Plans - §125


Qualified Benefits

Non-Qualified Benefits

Controlled Group Rules

Salary Reduction Plans


Highly Compensated Participants

Key Employees


Reporting Requirements

Employee Educational Assistance Programs - §127


Educational Assistance

Dependent Care Assistance - §129

Amount of Assistance


55% Test


Conflict with Dependent Care

No-Additional-Cost Services - §132(b)

Covered Employees

Line of Business Requirement


Reciprocal Agreements


Highly Compensated Employee

Qualified Employee Discounts - §132(c)

Manner of Discount

Real Estate & Investment Property Exclusion

Amount of Discount


Working Condition Fringes - §132(d)

Covered Employees

Additions to Exclusion



De Minimis (Minimal) Fringes - §132(e)

Subsidized Eating Facilities

Qualified Transportation Disallowed - §132(f)

Commuter Highway Vehicle

Transit Pass

Qualified Parking

Exclusion Limits

Employer-Provided Automobile - §132 & §61

General Valuation Method

Special Method #1 - Lease Value

Annual Lease Value

Fair Market Value

Safe Harbor Value

Items Included in Annual Lease Value Table

Prorated Annual Lease Value

Daily Lease Value

Special Method #2 - Cents Per Mile

Regular Use

Mileage Rule

Items Included In Cents-Per-Mile Rate

Special Method #3 - Commuting Value

Control Employee

Employer-Provided Transportation in Unsafe Areas

Qualified Employee

On-premises Athletic Facility - §132(j)(4)(B)

Adoption Assistance Program - §137

Employment Taxes

Conflict with Adoption Credit

Eligible Child

Child with Special Needs

Limits on the Exclusion

Dollar Limit

Income Limit


Employer-Provided Retirement Advice & Planning - §132

Financial Planning - §212 & §67



Tax Planning - §212 & §67


Estate Planning - §212 & §67

Moving Expense Reimbursement Suspended- §217

Statement to Employees

Interest Free & Below-Market Loans - §7872

Permissible Discrimination

Employee Needs

Imputed Interest

Types of Loans

Demand Loans

Term Loans

Application of §7872 and Rate Determinations


25% Credit For Employer Child Care Facilities - §45F

Corporate Funded Educational Savings Accounts

Family & Medical Leave - §45S

Employer-Provided Cell Phones - §132(a)

Noncompensatory Business Purposes

Fringe Benefit Plans for S Corporations

ERISA Compliance

Welfare Plans

Additional Requirements



CPE Taxes Course: https://www.cpethink.com/tax-cpa-courses
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