Froogle | Glossary

for tax purposes, a benefit is received by a taxpayer whenever anything occurs that results in an economic benefit to the taxpayer. However, not all benefits are included in gross income. This is because many benefits are not realized in the taxable year (or they are not subject to tax under the IRC/judicially-developed/administratively-developed principles).

FRINGE BENEFITS: benefits other than direct salary or compensation (such as parking, health insurance, tuition reimbursement, etc.) received by employees from employers as a result of their employment. Generally, fringe benefits are not subject to tax.

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Froogle 1.1.1.7

BENEFIT

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