Employer-sponsored child care + Imputed Income

[Guest M. Johnston]

My employer sent out a memo to certain parents at our "company-sponsored" child care center that states "if you are contributing to the Dependent Care Flexible Spending Account and utilizing child care benefits by a (our) corporation, the value of your benefits in excess of $5,000 is taxable as imputed income". They were not clear on how this is calculated and I am not familiar with this child care regulation, only imputed income for group term life. I believe it applies to those parents that might be receiving a discounted price on child care services based on family income. Is anyone familiar with this or knows where I can find details on this regulation?