IRS and gifts
Updated: 21 May 2010 | 1 comment
I know this is an international forum and if this thread concerning the US IRS does not apply to you then please be patient and skip on to the next posting.
Does symantec report the items that are sent to US residents to the IRS?
Does the monetary value of the item sent determine whether or not it should be reported as income by the US resident receiver?
What are the rules between services rendered and goods received?
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IRS Reporting
Hi Stumpr,
If you're referring to rewards points, here are a few paragraphs from the terms and conditions document that may shed some light:
# Points have no cash value. Points in this program cannot be exchanged for cash or credit, may not be used with any other offer, promotion or discount, and cannot be combined with cash to obtain a reward.
# WebWise Rewards points and rewards earned through participating in WebWise Rewards may be subject to tax liability. Any tax liability, including disclosure, connected with the receipt or use of WebWise Rewards points and the actual rewards is the responsibility of the member.
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