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___Volume 60, No 1The Quarterly Journal of the PSWA (Inc)ISBN 0729 65171 January 2024Christmas Awards Presidents MessageDear Stamp Enthusiasts, We are ending another busy Stamp year. I would like
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Christmas awards are typically bonuses or gifts given by employers to employees during the holiday season, often recognizing performance, longevity, or special contributions.
Employers who provide Christmas awards or bonuses to employees are generally required to report them for tax purposes.
To fill out Christmas awards, employers should ensure they accurately report the amount given on the appropriate tax forms, typically on W-2 forms for employees.
The purpose of Christmas awards is to recognize and reward employees for their contributions to the company throughout the year, fostering goodwill and morale.
Information such as the amount of the award, the recipient's details, and the nature of the award must be reported for tax purposes.
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