one-half of the stock in Parakeet Corporation, a calendar year taxpayer.  Cash distributions from Parakeet are:  $350,000 to Stacey on April 1 and $150,000 to Andrew on May 1.  If Parakeet’s current E&P is $560,000, how much is allocated to Andrew’s distribution? a.    $5,000 b.    $10,000 c.    $18,000

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.