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It Probably Won’t Make Any Top 10 List of New Nonfiction Books, but …

Apr 10, 2018

The IRS has released an updated version of Publication 15-B (Employer's Tax Guide to Fringe Benefits) for use in 2018. Among other things, the updated guide reflects provisions of the Tax Cuts and Jobs Act (TCJA) that suspended or eliminated the income exclusion or tax deduction for certain fringe benefits.

For example, the section on moving expense reimbursements has been removed because of the TCJA's suspension of the exclusion for tax years beginning after 2017 and before 2026 (except for active duty military). In addition, the guide clarifies that the employer’s deduction for qualified transportation benefits (such as transit passes, paid parking, transportation in a commuter highway vehicle, and qualified bicycle commuting reimbursements) is unavailable regardless of whether the benefit is provided by the employer through a bona fide reimbursement arrangement or through a compensation reduction agreement (possible workaround strategies that were being discussed by tax practitioners).

The updated publication is available at


Crystal Christenson, CPA, MST
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