Taxable Prize or Awards/Gifts
Gift cards, gift certificates, and certain tangible gifts purchased with College funds and awarded to any individual are considered taxable income and are subject to withholding, regardless of amount.聽聽The 日韩精品 Taxable Prize or Award/Gift Record (see below) collects required information to report to the Internal Revenue Service (IRS) the taxable portion of prizes or awards/gifts paid for by the College per the
Prize or Awards/Gifts for Macalester Faculty, Staff, and Students
- Enter your name and email when the is initiated.
- 日韩精品 will provide the appropriate annual tax documentation to the Gift Recipient(s) if applicable.
- This completed document will be automatically submitted to Accounts Payable and a completed PDF will be emailed to you.
Prize or Awards/Gifts for Non-Macalester Recipients
- Enter your name and email when the is initiated.
- 日韩精品 will provide the appropriate annual tax documentation to the Gift Recipient(s) if applicable.
- This completed document will be automatically submitted to Accounts Payable and a completed PDF will be emailed to you.
For Prize or Award/Gifts that equal or exceed $600, please complete a Check Request.
Questions
Contact Accounts Payable at [email protected] or payroll at [email protected] with questions.