By Wendy M. Greenberg, Esq. , Morrison & Foerster LLP
It is not at all uncommon for our clients to make provisions for long-time
employees in their wills or trusts. Most
of the time, we don't think twice about these bequests, because we know that
our clients think of the beneficiaries as...
by Mary Howley *
Although gifts are generally excluded from income, gifts from employers to employees are generally included in income. Achievement awards given to employees from employers may be excluded from income in certain cases. Holiday gifts of food or other merchandise of nominal value are...