A timely reminder about gift cards
This time of year especially, gift certificates and gift cards may be purchased from university funds for employees and student employees. Because the IRS considers these cash equivalents, they are subject to tax if the recipient is an employee.
All you need to do is specify the full name of the recipient and the dollar amount of each certificate or card purchased when filling out your expense reimbursement request.
Finance will provide human resources with a copy of the form so the amount of the gift can be added for tax purposes on the next payroll. This applies to all employee types, including regular, adjunct, temporary and student employees.
If you have any questions, please feel free to contact Katie Sol at 503-554-2181.