Issues, National

Here’s a thought, how about no taxation without representation? The IRS shouldn’t even have the power to redefine what taxable “income” is to begin with. Employment “perks” suddenly cease to be such when you discover your effective tax rate going up, even though you don’t make more money. If they manage this, what’s to stop them from going after other pre-tax contributions?

Currently, free meals for employees, spouses and their dependents are excludable from income under section 119 of the Tax Code if the meals are for “employee convenience” and are provided on the employer’s premises. The IRS is also looking to clarify section 132, which says an employee entitled under section 119 to exclude the value of a meal provided on the premises is treated as having paid an amount for such meal equal to the direct cost of the meal. No more free meals for tech workers? IRS advances project that could tax on-site food perks, Silicon Valley Business Journal

Link