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Dec 8, 2023 1:39 PM UTC
Question

How to report gift cards

2023 IRS rules require all gift cards given to employees be reported. How do I report and the company pay the taxes?

1 reply

BigRedConsulting
Dec 11, 2023 11:22 PM UTC

They're compensation, so probably set up an addition item that is typed as compensation to report them, and then a deduction item - with no taxable type - to negate the money from net pay.