Elizabeth Lewis counsels that employers who provide gifts to employees during the holiday season (Thanksgiving turkeys, for example) should be mindful of the approach the IRS takes to such gifts. Ms. Lewis notes that the IRS distinguishes between lavish gifts (which are taxable) and "de minimis" gifts (which are not), and suggests that employers look to gifts with more meaning than financial value for employees who have earned a little extra.
- Summary by FizzLaw Team
Read the Article at:
Turkeys for Employees? Beware the IRS!