2019 Awards, Prizes or Gift payments

[Business Affairs Office 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 2019 between January 1 and December 31, 2019 needs to be processed prior to December 31, 2019.

Any employee award, prize, or gift (including gift cards) over $50.00 in value given to an employee must be entered in Banner and approved no later than December 18, 2019.  This will allow time for Accounts Payable to report the payment to Payroll to be added to December's Payroll and the employees W-2 for 2019.  Payroll must enter the amount in the employee's record and arrange for any potential tax withholding by December 20, 2019.

If you have any questions, please call Carmela Kortum at 6-3126.

Thank you.

Accounts Payable

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