Icebergclub
Happy to have a Job.....
- Joined
- Mar 14, 2002
- Posts
- 61
Here is a little excerpt from our jumpseat chair who just got back from a meeting in D.C. It seems the IRS wants to tax us for the use of the jumpseat. This has to be stopped! I am hoping for some more info to be posted on this. It seems to me that now is the time to start writing our Representatives. If you have any info on this please post it!
"Now the bad news. The IRS is attempting to TAX the use of the jumpseat. There is a clause in tax law that states that “HIGHLY COMPENSATED” (I know, I know) workers who receive additional benefits from their companies must report the fair market value of those benefits to the IRS as income. The IRS is attempting to add the use of Jumpseats to their list of additional benefits. This means if you jumpseat 10 times a year and the average price of the ticket was say $500.00, you would have to report an extra $5000.00 to the IRS as income. The IRS is apparently well along in this idea so if you know any one that you think can help squash this then NOW is the time to write to them."
"Now the bad news. The IRS is attempting to TAX the use of the jumpseat. There is a clause in tax law that states that “HIGHLY COMPENSATED” (I know, I know) workers who receive additional benefits from their companies must report the fair market value of those benefits to the IRS as income. The IRS is attempting to add the use of Jumpseats to their list of additional benefits. This means if you jumpseat 10 times a year and the average price of the ticket was say $500.00, you would have to report an extra $5000.00 to the IRS as income. The IRS is apparently well along in this idea so if you know any one that you think can help squash this then NOW is the time to write to them."