Section 125 Internal Revenue Code

For more detailed codes research information including annotations and citations please visit westlaw. A qualified benefits plan means an employee benefit plan governing the provision of one or more benefits that are qualified benefits under section 125 f. B exception for highly compensated participants and key employees.

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Section 125 internal revenue code. Federal tax law begins with the internal revenue code irc enacted by congress in title 26 of the united states code 26 u s c. Section 125 f defines a qualified benefit as any benefit which with the application of 125 a is not includable in the gross income of the employee by reason of an express provision of chapter i of the internal revenue code other than 106 b 117 127 or l32. Fringe benefit exclusion rules.

The plan is called a cafeteria plan because it includes a menu of benefits for employees to choose from. For provision that for purposes of section 125 of the internal revenue code of 1986 a plan shall not be treated as failing to be a cafeteria plan solely because under the plan a participant elected before january 1 1988 to receive reimbursement under the plan for dependent care assistance for periods after december 31 1987 and such assistance included reimbursement for expenses at a camp where the dependent stays overnight see section 10101 b 2 of pub. Section 125 of the internal revenue code refers to cafeteria plan benefits.

This notice provides guidance on the application of the rules under section 125 of the internal revenue code code relating to cafeteria plans including health and dependent care flexible spending arrangements fsas and section 223 of the code relating to health savings accounts hsas as those two provisions relate to the participation by same sex spouses in certain employee benefit plans following the supreme court decision in united states v. This section discusses the exclusion rules that apply to fringe benefits. Internal revenue code section 125 d 1 cafeteria plans.

These rules exclude all or part of the value of certain benefits from the recipient s pay. 100 203 as added by pub. Cafeteria plans on westlaw findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system.

For more information about cafeteria plans see section 125 of the internal revenue code and its regulations. 100 203 as added by pub. For provision that for purposes of section 125 of the internal revenue code of 1986 a plan shall not be treated as failing to be a cafeteria plan solely because under the plan a participant elected before january 1 1988 to receive reimbursement under the plan for dependent care assistance for periods after december 31 1987 and such assistance included reimbursement for expenses at a camp where the dependent stays overnight see section 10101 b 2 of pub.

Internal revenue code 125. Except as provided in subsection b no amount shall be included in the gross income of a participant in a cafeteria plan solely because under the plan the participant may choose among the benefits of the plan. A plan does not fail to be a qualified benefits plan merely because it includes an fsa assuming that the fsa meets the requirements of section 125 and the regulations thereunder.