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<blockquote data-quote="Red Headed Stranger" data-source="post: 5686197" data-attributes="member: 90351"><p>Unfortunately, this is incorrect. Bonuses are always taxable because they are income under IRC Section 61 and no IRC section excludes them from taxation. <a href="https://www.irs.gov/pub/irs-pdf/p5137.pdf" target="_blank">If the recipient is an employee, this amount is includible as wages and reported by the employer their W-2 and is subject to federal income tax withholding, Social Security and Medicare taxes</a>. It is not a gift from your employer.</p></blockquote><p></p>
[QUOTE="Red Headed Stranger, post: 5686197, member: 90351"] Unfortunately, this is incorrect. Bonuses are always taxable because they are income under IRC Section 61 and no IRC section excludes them from taxation. [URL='https://www.irs.gov/pub/irs-pdf/p5137.pdf']If the recipient is an employee, this amount is includible as wages and reported by the employer their W-2 and is subject to federal income tax withholding, Social Security and Medicare taxes[/URL]. It is not a gift from your employer. [/QUOTE]
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