For tax purposes, a fringe benefit is a form of compensation other than monetary. Some benefits are taxable and must be included in the recipient’s pay unless the law specifically excludes them. The IRS list of fringe benefits is extensive and includes the following categories:
Accident and Health Benefits, Achievement Awards, Adoption Assistance, Athletic Facilities, Dependent Care Assistance , Educational Assistance , Employee Discounts,
Employee Stock Options, Employer-Provided Cell Phones, Group-Term Life Insurance Coverage, Health Savings Accounts, Lodging on Business Premises, Meals,
Moving Expense Reimbursements, Retirement Planning Services, Transportation (Commuting) Benefits , Tuition Reduction, and Working Condition Benefits

Some employers offer cafeteria plans, that is a written plan that allows employees to choose between receiving cash or a taxable benefit. Cafeteria plans may offer
accident and health benefits, adoption assistance, dependent care assistance, group-term life insurance coverage, and health savings accounts (HSA’s). A cafeteria plan cannot include benefits such as educational assistance, athletic facilities, retirement planning services, and other common benefits some businesses may provide.