The IRS says the value of these referral services (e.g., identifying education, care, and medical providers; locating home services professionals; connecting employees with local financial planners) is tax free to employees and not subject to employment taxes. They are viewed as a de minimis fringe benefit because the value is so small as to make accounting for it unreasonable and administratively impractical. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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BOI reporting cont'd. But this isn’t the end of the story. The government filed a notice of appeal with the appellate court, and FinCEN says “deadline stay—voluntary submission only” (https://bit.ly/3ZpKxwU Note: There are cases challenging CTA that are still pending.