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Robin Solomon Quoted in US News & World Report

US News & World Report

Robin Solomon discussed the tax treatment of employee awards and bonuses in US News & World Report article "8 Surprising Things That Are Taxable" by Geoff Williams (February 4, 2016), as part of the Money section.  

Employee awards. Were you an especially productive employee last year? You may have some bad news coming.

"Rewarded for doing good work? Cash awards or bonuses from your employer are taxable. So are vacation trips for meeting sales goals," says Robin Solomon, a tax and benefits attorney with Ivins, Phillips & Barker in the District of Columbia.

On the plus side, Solomon adds, "An exception applies for noncash employee achievement awards – such as a gold watch or iPod shuffle – presented for your length of service or safety achievement. These are generally not taxable if valued below $400."

The same goes for other nominal (that is, cheap) holiday gifts, Solomon says. So if you were given a Christmas ham, she says you don't have to worry.

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