My husband is a diagnostic mechanic and was lucky to work nearly full-time through the last two years. He’s been scrupulously careful with his health all this time, fearing to bring covid home to our young child or his immunocompromised parents.
He just finished his 10th year with his employer and, as is company tradition, was given a sizeable gift certificate.
For airline tickets.
😔
Do we still get long service awards this year will be my 15th year.
Introduced: Sponsor: Rep. Frederica Wilson [D-FL24]
This bill was referred to the House Committee on Energy and Commerce which will consider it before sending it to the House floor for consideration.
The options seem quite varied so I'm curious as to what's been received before.
In 2020 I received a service award in the form of a $500 gift card from my employer.
On my payslip I had 2 line items for this...
GIFT TXB $500 - the taxable benefit
GIFT TXB GR UP $1,213 - the gross up on the taxable benefit.
My federal taxes on this payslip were approximately $700 higher than normal.
I think it calculates to be $1,713 multiplied by ~40% tax rate = ~$700 paid in taxes.
But I don't understand how a $500 gift card can turn into a $1,713 Taxable Benefit costing $700 in taxes. It just doesn't make any sense.
When I contact payroll they try to explain it, saying it is gross up and expecting me to just accept the answer.
Am I misunderstanding this? It doesn't make sense to me.
So I have a question I have been with DND for almost 16 years. When should i expect to receive any long service awards and what might they be?
