What does IRS mean by exclusion from gross wages and exempt from tax in Pub 15 and 15b.
Do they mean the same thing? Which exempt from tax also means exclusion from gross wages?
Got it. Thanks David!
Agree with David -- gross wages and "compensation" are very often defined very differently depending on the benefit/Taxing issue. Different definitions will include differing exclusions of what is or is not included in it.
Just found out the last HR person at my current Interim HR Manager position gave the 401k TPA the wrong compensation for 2016....ugh! I've only been here 6 days and have found all sorts of issues with the prior HR person. (But I'm not directly responsible for payroll anymore YAY!!!)