Cash Awards/Gift Certificates
Process for Taxation of Non-wage Compensation
Description
- An employee receives a cash award or gift certificate.
Examples of this would be:
Does not include service or safety awards
This will appear on the employee’s paycheck as:
- AWD - WIK Cash Award Paid through Foundations
- ACC - WIK Cash Award Paid through Accounting
- GCT - WIK Gift Certificate
Employee’s Responsibility:
- The employee has no responsibility to the University
Controller's Office/Foundations Responsibility:
- Provide a memo or spreadsheet to University Payroll with the following information:
- Employee Name
- Employee ID number
- Amount of payment
- Reason for payment
- Pay Cycle (Bi-weekly or Monthly)
- Status of employee (Active, LOA, Terminated, etc)
Please note: Cash Awards or Gift Certificates should be reported by the 5th of each month for the previous month.
University Payroll’s Responsibility:
