Taxes on Awards
HRMGR
1 Post
Does anyone know where can I find information on the maximum amount you can award in non-monetary awards/incentives without withholding taxes? Or is there a maximum? Is it per award, or per year? I've heard from some that it is somewhere in the $500-600 range per year, but I know others than tax on gifts worth much less. My understanding is that if you award cash, you always have to tax...but if you awards gift cards or something non-monetary, there is a cap. Any clarification would be appreciated, or links to some websites where I can look for myself. Thank you!!
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