NAICU Washington Update

IRS Issues Final Guidance on Business-Use Cell Phones

September 23, 2011

Last week, the IRS issued guidance on the tax treatment of business-issued cell phones and other electronic devices, formally clarifying they are nontaxable to employees, and that no record-keeping is required by employers. The Small Business Jobs Act of 2010 officially eliminated the reporting and recordkeeping requirements, and deemed employer-issued cell phones as non-taxable to the employee. Click here for additional details.

MORE News from NAICU