Reference no: EM13598399

Which of the following is a taxable fringe benefit?employer pays for subscriptions for professional journals delivered to employee's home adresses employer provides meals at its own eating facility for the employee's convenience and the annual revenue from the facility exceeds the direct operating costs of the facility payments for educational assistance for classes that are work related reimbursement for employees' moving expenses deductible under the Internal Revenue Service Code

Which of the following is true concerning compensation for injuries and sickness?options:punitive damages received on account of a ruined business reputation that is considered a permanent injury is not included in gross income payments in lieu of wages from an insurance policy paid for by the taxpayer's employer are included in gross income of the recipient workers' compensation benefits from personal injuries or sickness are included in gross income of the recipient taxpayer amounts received through accident or health insurance for personal injuries or sickness are excluded from gross income to the extent that the medical expenses were deducted in a prior year

Lon Warwick is an ordained clergyman serving his local parish church. The church furnished him a home with a rental value of $400 per month. On June 30 his home was completely destroyed by fire. Beginning in July, his church paid him a rental allowance of $400 per month. He immediately moved into an apartment for which he paid $300 per month. How much of the allowance paid to the clergyman must be included in his income for the current year?