3 ms·
Has there been a section 119 update since the 2014 guidance? Also, I don't think free Yoga classes fall under section 119 — those will be taxed as income.
by thechao 6y ago
Has there been a section 119 update since the 2014 guidance? Also, I don't think free Yoga classes fall under section 119 — those will be taxed as income.
- SilasX 6y agoWell it wouldn't be 119 specifically, which seems to only refer to meals and lodging. But I found this IRS document [1] which gives a thorough overview of what fringe benefits are taxable. There might be an exemption in the section about athletic facilities (§132) [2] or perhaps there are circumstances where it could count as a de minimis benefit [3]. Disclaimer: not anything close to a lawyer, let alone a tax lawyer. [1] https://www.irs.gov/pub/irs-tege/fringe_benefit_fslg.pdf https://www.irs.gov/pub/irs-tege/fringe_benefit_fslg.pdf Up to date html equivalent for 2020 is at https://www.irs.gov/publications/p15b#en_US_2020_publink1000193657 https://www.irs.gov/publications/p15b#en_US_2020_publink1000... [2] from the html link: >>You can exclude the value of an employee's use of an on-premises gym or other athletic facility you operate from an employee's wages if substantially all use of the facility during the calendar year is by your employees ... The exclusion doesn't apply to any athletic facility if access to the facility is made available to the general public through the sale of memberships, the rental of the facility, or a similar arrangement. [3] https://www.irs.gov/publications/p15b#en_US_2020_publink1000193660 https://www.irs.gov/publications/p15b#en_US_2020_publink1000...