The First Chance Casino has gambling facilities, a bar, a restaurant, and a hotel.All employees are allowed to obtain food from the restaurant at no charge during working hours.In the case of the employees who operate the gambling facilities, bar, and restaurant, 60% of all of Casino's employees, the meals are provided for the convenience of the Casino.However, the hotel workers, demanded equal treatment and therefore were also allowed to eat in the restaurant at no charge while they are at work.Which of the following is correct?
A) All the employees are required to include the value of the meals in their gross income.
B) Only the restaurant employees may exclude the value of their meals from gross income.
C) Only the employees who work in gambling, the bar, and the restaurant may exclude the meals from gross income.
D) All of the employees may exclude the value of the meals from gross income.
E) None of the above.
Correct Answer:
Verified
Q59: In 2012, Khalid was in an automobile
Q60: Matilda works for a company with 1,000
Q61: Adam repairs power lines for the Egret
Q62: A company has a medical reimbursement plan
Q63: Peggy is an executive for the Tan
Q65: The president of Silver Corporation is assigned
Q66: Kristen's employer owns its building and provides
Q67: The Perfection Tax Service gives employees $12.50
Q68: Ridge is the manager of a motel.As
Q69: The Royal Motor Company manufactures automobiles.Employees of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents