Internal Revenue Code Section 132

132 c 1 b in the case of services 20 percent of the price at which the services are being offered by the employer to customers.

Internal revenue code section 132. The internal revenue code allows employers to offer nontaxable qualified transportation fringe qtf benefits under sec. 2 whether under the facts described in situation 6 below qualified transportation fringe benefits include delivery charges incurred by an employee in acquiring transit passes. Expenses exceeding 5 250 may be excluded from tax under irc section 132 d.

Internal revenue code section 132 f 5. The following is a version of the amended tax code section. Findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system.

Excluded from gross income under 132 a 5 and 132 f of the internal revenue code code and from wages for employment tax purposes. An official version of the tax law may be found at 26 usc section 132 f. Internal revenue code 132.

Internal revenue code section 132 provides eight types of fringe benefits that are excluded from gross income. Irs section 132 f of the internal revenue code as amended on june 9 1998 by title ix section 9010 of the transportation equity act for the 21st century public law 105 178 is outlined below. These include fringe benefits which qualify as a no additional cost service qualified employee discount working condition fringe de minimis fringe qualified transportation fringe qualified moving expense reimbursement qualified retirement planning services or qualified military base realignment and closure fringe.

Internal revenue code section 132 d. For purposes of section 132 h 2 b now 132 j 2 b of the internal revenue code of 1954 now 1986 a leased section of a department store which in connection with the offering of beautician services customarily makes sales of beauty aids in the ordinary course of business shall be treated as engaged in over the counter sales of property. These benefits include mass transit benefits van pools qualified parking and some other commuter benefits.

Certain fringe benefits on westlaw.