The Full Wiki

More info on 26 USC 102(c)

26 USC 102(c): Wikis

Advertisements

Note: Many of our articles have direct quotes from sources you can cite, within the Wikipedia article! This article doesn't yet, but we're working on it! See more info or our list of citable articles.

Encyclopedia

From Wikipedia, the free encyclopedia

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

External links

  • [1], 26 USC section 102 Gift and Inheritances
  • [2], 26 USC section 132 Certain Fringe Benefits
  • [3], 26 USC section 74 Prizes and Awards

Notes

Advertisements

Advertisements






Got something to say? Make a comment.
Your name
Your email address
Message