IRS considers taxing work perks like food, gym memberships
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Re: IRS considers taxing work perks like food, gym memberships
#2"IRS begins new PR campaign to solicit donations from Silicon Valley for politicians on tax policy committees."
Re: IRS considers taxing work perks like food, gym memberships
#3Last paragraph made me laugh:
"Even if the IRS does crack down on this perk, the high-tech lunch isn't likely to completely disappear. Legal experts suspect most companies will probably just report it as 'taxable income' to employees and then pay them more in salary to cover the cost."
Written by someone who has probably has little experience in the real world.
Re: IRS considers taxing work perks like food, gym memberships
#4Is there anything this country does not want to tax?! How much more burden can we take?
Re: IRS considers taxing work perks like food, gym memberships
#5The IRS taxes compensation.
It's hard to believe it has taken them this long to realize that hundreds (or thousands) of dollars in free food and perks a month is compensation.
Re: IRS considers taxing work perks like food, gym memberships
#6Is there anything this country does not want to tax?! How much more burden can we take?
This is not something new the government is taxing, it's just extending the income tax from 'all income paid in money' to 'all income paid in money, goods and services', which is reasonable since money is just a proxy for 'all the things you buy with money', like food or gym memberships.
Re: IRS considers taxing work perks like food, gym memberships
#7The companies could have not conspired to keep salaries down and the people could buy things with their own money.
Re: IRS considers taxing work perks like food, gym memberships
#8These sorts of things are an unfortunate side-effect of the fact that individuals aren't allowed to write off their expenses as tax-deductible. Sort of how companies are allowed to write off their own expenses before calculating tax on "earnings".
So the market gravitates towards compensating employees in a tax-deductible sort of way.
Re: IRS considers taxing work perks like food, gym memberships
#9Is there anything this country does not want to tax?! How much more burden can we take?
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Re: IRS considers taxing work perks like food, gym memberships
#10The WSJ story mentioned in the Fox News article is a year old: http://online.wsj.com/news/articles/SB1000142412788732405030...
It's just FUD clickbait, like a great many 'news' articles published at tax time. Consider the source.