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Started By
Message
Paging Poodlebrain
Posted on 1/21/15 at 2:01 pm
Posted on 1/21/15 at 2:01 pm
Would it be acceptable to report the value of country club or other fringe benefit memberships provided by an employer to its employees on a 1099-MISC vs. including it on the W-2?
1
Posted on 1/21/15 at 2:35 pm to Ford Frenzy
Country club membership is definitely taxable compensation to the employee, and it should be reported as such on the W-2. Guidance for reporting other fringe benefits is provided in IRS Publication 5137.
Posted on 1/22/15 at 11:17 am to Poodlebrain
if you report it on the 1099 and let the employee pay the SE tax, will the IRS care? They're getting the exact same amount of tax less the result of the deduction for half of SE tax which is insignificant.
just curious
just curious
This post was edited on 1/22/15 at 11:19 am
Posted on 1/22/15 at 11:26 am to Ford Frenzy
quote:Yes, the IRS will care. Underreporting employee compensation could be advantageous to the employer in avoiding anti-discrimination rules for employee benefit plans.
if you report it on the 1099 and let the employee pay the SE tax, will the IRS care?
Posted on 1/22/15 at 12:43 pm to Poodlebrain
Thanks for the info, Poodle.
Posted on 1/23/15 at 5:49 am to Ford Frenzy
I have nothing to do with either of these situations, but have to say Poodle you are the man for helping everyone.
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