Setting up Fringe Taxable Benefits

We are in need of setting up fringe taxable benefits for automobiles that will be different than a standard car allowance and different than the “company car benefit” that is reported on timesheets on a per-trip basis. The “company car benefit” is considered part of the commuting rule under IRS regulations.

The benefit would be an annual lease value multiplied by the percentage of personal miles driven by the employee. This amount would then be the taxable benefit to the employee. It’s not paid, just taxed. We would also need a similar code to tax the benefit of fuel paid by the agency for the personal miles driven. This type of fringe benefit is defined in the IRS Publication 15-B (starting on p.27)