Fundamentals of Taxation
A De Minimis Benefit Is One Whose Value Is So
A de minimis benefit is one whose value is so small that keeping track of which employees received the benefit is administratively impractical.
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Taxpayers are not required to "impute interest" on a deferred payment contract for which no interest, or a low rate of interest, is stated.
If a taxpayer is economically better off because of a transaction, the person must normally record income.
Receipt of property or services will trigger income recognition.
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