2024 Awards, Prizes, or Gift Payments

[Business Affairs News]

Dear Campus,



The University of Oregon Tax filing is based upon Calendar year (January 1- December 31) reporting, instead of Fiscal year reporting (July 1-June 30).  The following payments are considered tax reportable and need to be reported in the calendar year that they were given.



Any award, prize, or gift (including gift cards) over $50.00 in value given in calendar year 2024 between January 1 and December 31, 2024, needs to be processed (entered and approved) prior to December 31, 2024.



Any employee award, prize, or gift (including gift cards) over $50.00 in value given to an employee must be entered in Banner as soon as possible and approved no later than 3:00 pm December 18, 2024, to allow time for Accounts Payable to report the payment to Payroll to be added to December's Payroll and the employees W-2 for 2024.



If you have any questions, please email Carmela Kortum at ckortum at uoregon.edu<mailto:ckortum at uoregon.edu>.



Thank you.



Accounts Payable

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