As we approach the last days of the year, remember to make tax deposits for any taxable fringe benefits you provide to your employees. I have attached a chart from IRS Publication 15b listing the treatment of certain benefits. Items like personal use of an auto are taxable and should be included in wages. Special Rules for Fringe Benefits; Lease Value Table
Estimate the value of fringe benefits by December 31st and make your tax deposit via EFTPS on your regular payroll tax deposit schedule. For monthly depositors that would be January 16, 2012 and for semi-weekly depositors that would be January 4, 2012 if treated as paid on December 30, 2011.
Please contact your tax professional at Jamison Money Farmer PC if you need assistance with the treatment of fringe benefits.