IRS Issues 2008 Version of Taxable Fringe Benefit Guide

The Internal Revenue Service (IRS) has posted on its website an updated version of its "Taxable Fringe Benefit Guide." This publication is maintained by the IRS office of Federal, State, and Local Governments and is provided as a resource to government entities. The guide addresses fringe benefit topics related to travel and transportation, such as travel advances and expense reimbursements, moving expenses, and qualified transportation fringe benefits. The 2008 version of the guide updates various dates and limits, including the 2008 mileage reimbursement rates.

Used as a supplement to other IRS publications, the Fringe Benefit Guide can be a helpful tool to anyone responsible for determining the taxability, withholding, and reporting requirements for employee fringe benefits.

For a copy: http://www.irs.gov/pub/irs-tege/fringe_benefit_fslg.pdf

Something Wrong With Your 401(k) Plan?

The Internal Revenue Service (IRS) has released a list of the 11 most common mistakes made in the administration of 401(k) Plans and how to correct or avoid those errors. As a plan fiduciary, it is your responsibility to ensure that your company's 401(k) Plan is in compliance with numerous federal laws and regulations. Plans that are found to be in violation can risk expensive penalties and disqualification. For more information, click here.