What does the heading “Taxable Fringe Benefit” mean on my payroll check stub?
1) Based upon IRS regulations, the value of employer-provided group term Life insurance in excess of $50,000 is taxable income to the employee, and the employer is required to withhold FICA and FIT on this benefit. 2) Moving Expense … Eligibility for reimbursements of moving expense is available to new full time faculty and librarians and those full-time administrative and professional staff specifically approved by a Senior Officer.
