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Finance: Report employee fringe benefits by Jan. 12
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Posted on Dec 17 2011
By Haidee V. Eugenio
Reporter
Reporter
Finance Secretary Larrisa Larson is reminding department and activity heads of Executive Branch offices to report all employee compensation or fringe benefits by Jan. 12, 2012.
These fringe benefits include housing benefit or cash allowance and/or the use of government vehicle in calendar year 2011.
“Fringe benefit information is supplemental to employees’ payroll records,” Larson said in a memo, with an attached form listing fringe benefit information.
Employee compensation are required to be documented in preparation for information returns, specifically the Annual Wage and Tax Statement and Form W2-CM and/or Form 1099MISC that must be furnished to employees.
Each government department and activity unit that uses the services of the Division of Finance and Accounting must provide the division with these information.
Larson said each department and activity head with expenditure authority is responsible to ensure all fringe benefits are reported to the Division of Finance and Accounting.
