Tuesday, September 22, 2009

NLBMDA News - IRS Highlights Taxability of Personal Use of Employer-Provided Cell Phones


A recent issue has been highlighted by the IRS in the personal use of employer-provided cell phones. A little-known rule currently requires that where an employee uses the employer-provided cell phone for personal purposes (i.e., only a portion can be substantiated as business use), the fair market value of such personal use is includable in the employee's gross income. Read more.

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