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An award does not qualify as a tax-free employee achievement award if the award is cash, cash equivalents, gift cards, gift certificates, vacations, meals, lodging, tickets to events, stocks, bonds, other securities, and similar items. [17] Section 79 excludes $50,000 worth of group term life insurance coverage provided by an employer to an ...
Gift card for a U.S hardware store. A gift card, also known as a gift certificate in North America, or gift voucher or gift token in the UK, [1] is a prepaid stored-value money card, usually issued by a retailer or bank, to be used as an alternative to cash for purchases within a particular store or related businesses.
Gift cards/certificates [ edit ] In general, they are available in two types: (1) cards which carry a major credit card brand, commonly referred to as universal gift cards (UGC), and are redeemable at all merchants accepting the credit card brand; and (2) retailer-specific cards, issued by well-known merchants, redeemable only through the ...
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