Updated August 10, 2006 In general, the value of employer-provided educational assistance is excludible from an employee’s gross income if it is provided under a Section 127 employer-provided educational assistance plan, qualifies as a Section 132 working condition fringe benefit, or qualifies as a Section 117(d) qualified tuition reduction. For more information, please review Payroll Tax…, §127 Employer-Provided Educational Assistance Programs (EAP’s)., Section 127 EAP’s are separate written plans of employers that provide educational assistance for the exclusive benefit of their employees. The programs must meet certain non-discrimination requirements, and cannot be part of §125 (cafeteria) plans. Reasonable notification of the availability and terms of the program must be provided to eligible employees. Form 5500, Annual Return/Report of…, §117 (d) Qualified Tuition Reductions., Qualified Tuition Reductions are tuition waivers or reimbursements provided to employees of educational organizations, their spouses, or their dependent children for courses taken at an educational organization with a regular faculty, curriculum, and enrolled student body. Section 117 (d) only applies to employees of educational organizations – not to all employees of the Commonwealth. Section…, §132 Educational expenses that qualify as working condition fringe benefits., §132: Gross income does not include any fringe benefit that qualifies as a working condition fringe. A “working condition fringe” means any property or services provided to an employee to the extent that, if the employee paid for the property or services, the payment would be allowable as a business expense deduction. Educational expenses that would be allowable as business expense deductions.…
Type: Guidelines
Scope, This guideline is designed to answer questions about the University’s tax status., Tax-Exempt Status, The University is tax-exempt under the doctrine of intergovernmental tax immunity. Governmental Tax Status Memo, Contributions to the University, For income tax purposes, section 170 provides that donations made for exclusively public purposes, to or for the use of a state or political subdivision, are deductible against the taxable income of individuals, corporations, and other taxpayers, subject to various limitations. For estate tax purposes, section 2055(a) provides that bequests, legacies, devises, or transfers made by an estate for…, Federal Tax Identification Numbers, The University’s federal tax identification number is 04-3167352. The Commonwealth of Massachusetts’ tax identification number is 04-6002284. The Commonwealth’s number is used for payroll tax purposes.
Type: Guidelines
Type: Guidelines
Gifts, Gifts of tangible personal property, such as flowers, may be presented as an expression of sympathy in the event of the death or major illness of an employee or a member of the employee's immediate family. For purposes of this policy, immediate family is defined as: spouse; children; parents; and siblings. The cost of such gifts is limited to $150. All such gifts must be requested through the…, Charitable Contributions, In lieu of flowers, a cash contribution of a comparable amount may be made to a charitable organization in memory of the deceased. All such contributions must be requested through the Human Resources Office and approved by the Senior Vice President for Administration and Finance. If approved, the Human Resources Office will be responsible for sending the contribution on behalf of the University…
Type: Guidelines
Type: Guidelines
Type: Guidelines
Type: Guidelines
