by Elaine
(Spartanburg, SC)
I understand from what I have read that basically any and all cash gifts to employees are to be added to the employee's W2 form.
Are these gifts simply to be reported as income, or are they also subject to FICA tax?
For example, if a $1,000 gift is given, should the employee receive $1,000 or $923.50 (the original gift amount less 0.0765 for FICA)?
Thank you.
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