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Morrison & Foerster LLP: Gifts and Bequests to Employees

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...

Tax Treatment of Gift, Dividends, or Loans to Employees

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...