USNH Financial Services

USNH Financial and Administrative Procedures

Title:

Awards, Gifts and Prizes

No.

08-008T

Issued By:

USNH Chief Financial Officer

Approved By:

Issued Date:

07/01/2009

Revised Date:

Table of Awards, Gifts and Prizes
(refer to Procedure 08-008 for details)
For Recipients Who Are U.S. Citizens

This document is for General Guidance ONLY.
CONSULT PROCEDURE 08-008 FOR A DETAILED EXPLANATION OF THE RULES.
CONTACT USNH TAX DIRECTOR WITH QUESTIONS

Policy Reference		Cash, Gift Cards/Certificates	Tangible Goods
	1. Employees
	A. Award
C.1.	Not Length of Service or Safety Award	Taxable; Reportable on W-2	Not Taxable and Not Reportable if £ $25; Taxable, Reportable and Withholdable if > $25
C.1.a.	Length of Service or Safety Award	Taxable; Reportable on W-2	Not Taxable and Not Reportable if limited to £ $400 and 1 X every 5 years
	B. Gift
C.2	Other than Sympathy (e.g., Birthday, Wedding, etc.)	Not Allowed	Not Allowed
C.2	Sympathy	Not Allowed	Not Taxable and Not Reportable if £ $25
	C. Prize - Game of Chance
C.3	With No Wager	Taxable; Reportable on 1099-MISC if ³ $600	Taxable; Reportable on 1099-MISC if ³ $600
C.3	With Wager	Taxable; Reportable on W-2G if ³ $600	Taxable; Reportable on W-2G if ³ $600
	2. Students
D.2 D.3	A. Award	Taxable; Reportable on 1099-MISC if ³ $600	Taxable; Reportable on 1099-MISC if ³ $600
	B. Gift
E.2	Other than Sympathy (e.g., Birthday, Wedding, etc.)	Not Allowed	Not Allowed
E.2	Sympathy	Not Allowed	Not Taxable and Not Reportable if £ $25
	C. Prize - Game of Chance
E.3	With No Wager	Taxable; Reportable on 1099-MISC if ³ $600	Taxable; Reportable on 1099-MISC if ³ $600
E.3	With Wager	Taxable; Reportable on W-2G if ³ $600	Taxable; Reportable on W-2G if ³ $600
	3. Non-Employees other than Volunteers, Donors and Prospective Donors
E.1	A. Award	Taxable; Reportable on 1099-MISC if ³ $600	Taxable; Reportable on 1099-MISC if ³ $600
	B. Gift
E.2	Other than Sympathy (e.g., Birthday, Wedding, etc.)	Not Allowed	Not Allowed
E.2	Sympathy	Not Allowed	Not Taxable and Not Reportable if £ $25
	C. Prize - Game of Chance
E.3	With No Wager	Taxable; Reportable on 1099-MISC if ³ $600	Taxable; Reportable on 1099-MISC if ³ $600
E.3	With Wager	Taxable; Reportable on W-2G if ³ $600	Taxable; Reportable on W-2G if ³ $600

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USNH Financial Services

Table of Awards, Gifts and Prizes (refer to Procedure 08-008 for details) For Recipients Who Are U.S. Citizens

Table of Awards, Gifts and Prizes
(refer to Procedure 08-008 for details)
For Recipients Who Are U.S. Citizens