Non-Employees: Individuals who receive $600 or more, in a calendar year, in cash equivalent gifts or tangible items will receive a 1099-MISC at the end of the calendar year. If it is determined that you have received over $600 in gift cards or prizes, you will be required to fill out a W-9 form.

Employees: The value of a tangible gift above $50.00 will be included in the your W-2 at year-end and included in a payroll period for purposes of income tax withholding and payroll taxes. The value of a Gift Card / E-Gift Card / Gift Certificate, in any amount, will be included in your W-2 at year-end and included in a payroll period for purposes of income tax withholding and payroll taxes.

Non-Employees: I understand that under IRC Section 132 (a)(3), 3121(a), 6041 and 1.132-6 (c) requires Smartaira, to report payments of $600 or more per calendar year to me in fixed or determinable income to the Internal Revenue Service (IRS) which includes gifts and awards.

Employees: Understand that this payment will be reported to Payroll and is taxable according to state and federal tax rules. Additionally, I understand that under IRC Section 132 (a)(3), 3121(a), 6041 and 1.132-6 (c) requires Smartaira, to report payments of $600 or more per calendar year to me in fixed or determinable income to the Internal Revenue Service (IRS) which includes gits and awards.

I understand the IRS requires that 30% of the value of the gift, gift card, or gift certificate be withheld. However, due to the impracticality of withholding on a gift, gift card, or gift certificate, Smartaira is responsible for the payment of the applicable tax.

I understand the IRS requires that 30% of the value of the gift, gift card, or gift certificate be withheld. However, due to the impracticality of withholding on a gift, gift card, or gift certificate, the Department distributing the gift, gift card, or gift certificate is responsible for the payment of the applicable tax.