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Are gift cards given for COVID-19 vaccines reportable income?

October 18, 2021
October 18, 2021

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Q. Are gift cards given to someone for getting the COVID vaccine considered taxable income? The recipients are students of a university. Some of the funding may come from ARP federal COVID relief funds. A. (Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.) In general the face value of a gift card is reportable as income (box 3 of…

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