Checkers has been engaged by multiple major domestic and multi-national corporations to conduct security assessments and surveys to meet the needs and concerns of its corporate clients and to function as an independent third-party consulting and security firm, in order to comply with and satisfy the Internal Revenue Service requirements for the exclusion from personal income tax of certain otherwise personally taxable corporate provided fringe benefits.
Corporate executives and other individuals working in a corporate organization or structure often receive extraordinary or fringe benefits not provided to other employees that may be subject to personal (W-2) taxation. The Internal Revenue Code provides that certain of these fringe benefits must be treated as compensation includible in income unless there is a specific applicable statutory exclusion.
The Internal Revenue Code and applicable United States Treasury Regulations provide that if an employer establishes an “overall security program,” particular employees may receive certain otherwise taxable fringe benefit on a tax-free or reduced taxed basis. These benefits include those in the list above and may also be applicable to an employee’s spouse and children.
Checkers, as an independent security consultant, will conduct all survey services necessary to provide to its client a report and security survey designed to meet and comply with the requirements of the Internal Revenue Code for tax treatment of employee fringe benefits.
There are additional benefits to obtaining an Independent Security Study. The assessment and recommendations provided by Checkers will include relevant and valuable insight and methodologies for the establishment and maintenance of safe personal and work environments for corporation, the employee, and the employee’s family.