

Cash Gifts Under no circumstances will individuals be reimbursed for cash gifts (cash, checks, or gift cards) given to employees, students or guests. All cash gifts, regardless of the amount, must be issued as university checks and reported as taxable income to the recipient. Employee Gifts Internal Revenue Code §102 has provided no exclusion for “any amount” provided by an employer to an employee. An exclusion may be available under Internal Revenue Code §132 as “de minimis fringe benefits” for items that are small in value and provided infrequently such as:
Employee Recognition Awards Employee achievement awards, up to $400 will not be included in payroll records but must still be purchased directly with university funds. An employee achievement award is tangible personal property that meets at least one of the following criteria:
Gift Certificates/ Gift Cards Gift certificates or gift cards purchased with institutional funds and awarded to University employees are considered taxable wages and are subject to withholding, regardless of its amount. According to Treasury regulation 1.132-6 “a cash equivalent fringe benefit (such as a fringe benefit provided to an employee through the use of a gift certificate/gift card) is not excludable under section 132(a) even if the same property or service acquired (if provided in kind) would be excludable as a de minimis fringe benefit." |
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