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Report Link Giving Employees Gifts May Require Giving to the Tax Collector Too.Littler Mendelson, P.C. - November 26, 2008 The end of the year is a traditional time for employers to give gifts to their employees. While it is customary to think of gifts as having no tax consequences for the recipient, the Internal Revenue Code (Code) does not treat all gifts the same. Unfortunately, gifts that employers give to their employees are generally treated as supplemental wages, and thus subject to both payroll and income taxes. This means that the value of the gift must be included in the employee's W-2 at year end and included in a payroll period for purposes of income tax withholding and payroll taxes. Report Link Giving Employees Gifts May Require Giving to the Tax Collector Too.Littler Mendelson, P.C. - December 05, 2005 The end of the year is a traditional time for employers to give gifts to their employees. While it is customary to think of gifts as having no tax consequences for the recipient, the Internal Revenue Code (Code) does not treat all gifts the same. Unfortunately, gifts that employers give to their employees are generally treated as supplemental wages, and thus subject to both payroll and income taxes. This means that the value of the gift must be included in the employee's W-2 at year end and included in a payroll period for purposes of income tax withholding and payroll taxes.
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ArticlesFound: 2 ArticlesNO SUBTOPICSEmployment Law Seminars
2010 Ushers In Many Important Changes to Workplace Laws
Columbia
November 20, 2009 Fisher & PhillipsANNUAL EMPLOYMENT LAW UPDATESacramento
December 1, 2009 Shaw ValenzaMonthly Webinar: Preventing Workplace Harassment (California and National)Webinar
December 1, 2009 LittlerCalifornia Legally Required Sexual Harassment Training: It's Never Too Late to ComplySan Francisco
December 1, 2009 Fisher & PhillipsThe Constangy Management Training Center "Employment Law 201"Tampa
December 2, 2009 ConstangyCalifornia Legally Required Sexual Harassment Training: It's Never Too Late to ComplyOntario
December 2, 2009 Fisher & PhillipsAudio Conference: Employee Caregivers Dealing With DementiaAudio Conference
December 2, 2009 Young ConawayClients, Adversaries and Witnesses: The Ethics of Communication in a Fast-Paced Legal World Web CastWebinar
December 4, 2009 Ford & HarrisonTaking Executive Compensation Hostage; What To DoWebinar
December 8, 2009 Baker HostetlerPREVENTING HARASSMENT AND OTHER EEO ISSUES AT WORK: IT’S ALL ABOUT RESPECT (AB 1825 COMPLIANCE)Sacramento
December 9, 2009 Shaw Valenza |
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