2020 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 2020 between January 1 and December 31, 2020 needs to be processed (entered and approved) prior to December 31, 2020.



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 21, 2020 (today) in order 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 2020.  We apologize for the late reminder, but Payroll must enter the amount in the employee's record and arrange for any potential tax withholding by 5:00 pm today, December 21, 2020.



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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