If an employee receives a prize or award from his or her employer,the award is included in W-2 income.

Name: If an employee receives a prize or award from his or her employer,the award is included in W-2 income.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Any prizes or awards received by an employee for their work are considered taxable income and should be included on their W-2 form. This includes cash prizes, gift cards, and other non-cash items such as trips or merchandise.

If an Employee Receives a Prize or Award from His