Under U.S. Federal law, 26 USC 102(c) governs the income tax treatment, by an employee, of gifts received by an employee from his or her employer. While gifts are typically exempt from gross income under U.S. federal income tax law, this is not usually so for gifts received from employers. Under Internal Revenue Code section 102(c), gifts transferred by or for an employer to, or for the benefit of, an employee, cannot generally be excluded from gross income.[1]
There are some statutory exceptions to this rule, for example, in the case of de minimis fringe amounts[2] and for achievement awards.[3]
this, article, relies, excessively, references, primary, sources, please, improve, this, article, adding, secondary, tertiary, sources, find, sources, news, newspapers, books, scholar, jstor, 2016, learn, when, remove, this, message, under, federal, governs, i. This article relies excessively on references to primary sources Please improve this article by adding secondary or tertiary sources Find sources 26 USC 102 c news newspapers books scholar JSTOR May 2016 Learn how and when to remove this message Under U S Federal law 26 USC 102 c governs the income tax treatment by an employee of gifts received by an employee from his or her employer While gifts are typically exempt from gross income under U S federal income tax law this is not usually so for gifts received from employers Under Internal Revenue Code section 102 c gifts transferred by or for an employer to or for the benefit of an employee cannot generally be excluded from gross income 1 There are some statutory exceptions to this rule for example in the case of de minimis fringe amounts 2 and for achievement awards 3 See also editIncome tax in the United States Gift taxExternal links editThe Taxation of a Gift or Inheritance from an Employer Douglas A Kahn University of Michigan Law School 26 USC section 132 Certain Fringe Benefits 26 USC section 74 Prizes and AwardsReferences edit 26 U S C 102 26 U S C 132 26 U S C 74 Retrieved from https en wikipedia org w index php title 26 USC 102 c amp oldid 1213675451, wikipedia, wiki, book, books, library,
