New Law Changes IRS Rules on Cell Phones
September 29, 2010
President Barack Obama removed cell phones from the Internal Revenue Service listed property rule with the signing of the Small Business Jobs Act. As a result, cell phones provided by employers for personal use are no longer a taxable benefit under IRS rules.
The Mobile Cell Phone Act (HR 690) was first introduced in January 2009 and was sponsored by Rep. Samuel Johnson (R-TX) and Sen. John Kerry (D-MA) in the House and Senate, respectively.
New Law Changes IRS Rules on Cell Phones