Internal Revenue Code Section 132(a) provides eight types of fringe benefits that are excluded from gross income. These include fringe benefits which qualify as a (1) no-additional-cost service, (2) qualified employee discount, (3) working condition fringe, (4) de minimis fringe, (5) qualified transportation fringe, (6) qualified moving expense reimbursement, (7) qualified retirement planning services, or (8) qualified military base realignment and closure fringe.
Read more about Internal Revenue Code Section 132(a): Statutory Fringe Benefits, Eight Fringe Benefits Excluded From Gross Income, Further Information
Famous quotes containing the words internal, revenue, code and/or section:
“A State, in idea, is the opposite of a Church. A State regards classes, and not individuals; and it estimates classes, not by internal merit, but external accidents, as property, birth, etc. But a church does the reverse of this, and disregards all external accidents, and looks at men as individual persons, allowing no gradations of ranks, but such as greater or less wisdom, learning, and holiness ought to confer. A Church is, therefore, in idea, the only pure democracy.”
—Samuel Taylor Coleridge (1772–1834)
“If you tax too high, the revenue will yield nothing.”
—Ralph Waldo Emerson (1803–1882)
“Wise Draco comes, deep in the midnight roll
Of black artillery; he comes, though late;
In code corroborating Calvin’s creed
And cynic tyrannies of honest kings;
He comes, nor parlies; and the Town, redeemed,
Gives thanks devout; nor, being thankful, heeds
The grimy slur on the Republic’s faith implied,
Which holds that Man is naturally good,
And—more—is Nature’s Roman, never to be
scourged.”
—Herman Melville (1819–1891)
“Ah, Governor [Murphy, of New Jersey], don’t try to deceive me as to the sentiment of the dear people. I have been hearing from the West and the East, and the South seems to be the only section which approves of me at all, and that comes from merely a generous impulse, for even that section would deny me its votes.”
—William Howard Taft (1857–1930)