Now IRS Wants To Tax Your Work Perks

The federal government is like a big hungry beast that’s never satisfied. It devours everything it can sink its fangs into, so it’s no surprise that the IRS wants to tax extra perks Americans get at work. Currently they are looking at free food served up by some of the big tech giants, but how long until it trickles down to everyone else?

In competitive job markets like Silicon Valley, companies are doing everything they can to entice the best and brightest — offering freebies that have become the stuff of legend.

Employee perks like free food at lavish cafeterias, laundry and even yoga are not unheard of.

But the taxman could soon crack down.

The IRS reportedly is looking at these perks and seeing if these companies need to start paying up for the free stuff they offer employees. (Read More)

I worked for a small to medium sized business where the owner of the company buys lunch for the staff on occasion. Would those lunches be taxed? He also gives out clambake and state fair tickets every year, will the IRS consider the value of those tickets to be taxable income? The Pirate’s Cove notes that the government has already cracked down on gifts and giveaways from vendors, so this is really no surprise.