APA's Top Payroll Questions & Answers for 2020 - 29

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APA's Top Payroll Questions & Answers for 2020

Safety award gift cards

We give out gift cards to a national sporting goods store for certain
safety milestones. To date, these cards do not go through payroll and
therefore have not been taxed. I believe that they should be taxed, but I
am getting pushback from our CPA and attorneys who say these cards
are de minimis. I'm thinking they need to be added to the employees'
Forms W-2 as imputed income at the end of the year. Am I right? Since
they can be used at a single store, are they still considered a cash gift?

A.

The gift cards must be included in your employees' income.
Generally, employers do not include awards for safety achievement
in an employee's income if the amount of the award is deductible to
the employer as a business expense. However, to qualify as deductible
to the employer, a safety achievement award must be an award of
"tangible personal property," which does not include cash or cash
equivalents, gift cards, gift coupons, or gift certificates (other than those
allowing the employee only to select tangible personal property from
a limited list pre-selected or pre-approved by the employer), stocks,
bonds, vacations, meals, lodging, or tickets to theater or sporting
events.
There are additional requirements that must be met for a safety
award to an employee to be excludable from an employee's income.
Check out The Payroll Source®, §3.4-2 for more details.

29

Taxable and Nontaxable Compensation

Q.



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APA's Top Payroll Questions & Answers for 2020

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Table of Contents
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