{"id":2751,"date":"2025-08-27T15:15:54","date_gmt":"2025-08-27T15:15:54","guid":{"rendered":"https:\/\/www.macalester.edu\/160-business-services\/?page_id=2751"},"modified":"2025-08-27T15:15:54","modified_gmt":"2025-08-27T15:15:54","slug":"taxableprize","status":"publish","type":"page","link":"https:\/\/www.macalester.edu\/business-services\/taxableprize\/","title":{"rendered":"Taxable Prize or Awards\/Gifts"},"content":{"rendered":"<p><span data-key=\"5\"><span class=\"styled__StyledNode-sc-6ox0qd-0 htUNRH\" data-slate-leaf=\"true\"><span class=\"styled__StyledAdditionalNode-sc-6ox0qd-1 WmbfE\"><span style=\"font-weight: 400\">Gift cards, gift certificates, and certain tangible gifts purchased with College funds and awarded to any individual are considered taxable income and are subject to withholding, regardless of amount.\u00a0\u00a0<\/span>The <span class=\"styled__StyledNode-sc-6ox0qd-0 kBInjS\" data-slate-leaf=\"true\">Macalester College Taxable Prize or Award\/Gift Record (see below) <\/span>collects required information to report to the Internal Revenue Service (IRS) the taxable portion of prizes or awards\/gifts paid for by the College per the <span class=\"styled__StyledNode-sc-6ox0qd-0 fwpHCF\" data-slate-leaf=\"true\"><a class=\"more\" href=\"https:\/\/docs.google.com\/document\/d\/17d19isLfhQq36USyS95H6w-6_liqeOQierImRqqY4aA\/view\">Macalester College Prizes and Awards\/Gifts Policy (gDoc).<\/a><\/span><\/span><\/span><\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"styled__StyledNode-sc-6ox0qd-0 iiToDe\" data-slate-leaf=\"true\"><span class=\"styled__StyledAdditionalNode-sc-6ox0qd-1 WmbfE\">Prize or Awards\/Gifts for Macalester Faculty, Staff, and Students<\/span><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">Enter your name and email when the <span data-key=\"5\"><span class=\"styled__StyledNode-sc-6ox0qd-0 htUNRH\" data-slate-leaf=\"true\"><span class=\"styled__StyledAdditionalNode-sc-6ox0qd-1 WmbfE\"><strong><a class=\"more\" href=\"https:\/\/eform.pandadoc.com\/?eform=e972efa4-e61d-455c-8edf-2a32e8ef3f3a\"><span class=\"styled__StyledNode-sc-6ox0qd-0 kBInjS\" data-slate-leaf=\"true\">Macalester College Taxable Prize or Award\/Gift Record (eForm) <\/span><\/a><\/strong><\/span><\/span><\/span> is initiated.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">Macalester College will provide the appropriate annual tax documentation to the Gift Recipient(s) if applicable.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">This completed document will be automatically submitted to Accounts Payable and a completed PDF will be emailed to you.&nbsp;<\/span><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"styled__StyledNode-sc-6ox0qd-0 iiToDe\" data-slate-leaf=\"true\"><span class=\"styled__StyledAdditionalNode-sc-6ox0qd-1 WmbfE\">Prize or Awards\/Gifts for Non-Macalester Recipients<\/span><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">Enter your name and email when the <span data-key=\"5\"><span class=\"styled__StyledNode-sc-6ox0qd-0 htUNRH\" data-slate-leaf=\"true\"><span class=\"styled__StyledAdditionalNode-sc-6ox0qd-1 WmbfE\"><strong><a class=\"more\" href=\"https:\/\/eform.pandadoc.com\/?eform=e972efa4-e61d-455c-8edf-2a32e8ef3f3a\"><span class=\"styled__StyledNode-sc-6ox0qd-0 kBInjS\" data-slate-leaf=\"true\">Macalester College Taxable Prize or Award\/Gift Record (eForm) <\/span><\/a><\/strong><\/span><\/span><\/span> is initiated.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">Macalester College will provide the appropriate annual tax documentation to the Gift Recipient(s) if applicable.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">This completed document will be automatically submitted to Accounts Payable and a completed PDF will be emailed to you.&nbsp;<\/span><\/li>\n<\/ul>\n\n\n\n<p>For Prize or Award\/Gifts that <strong>equal or exceed $600<\/strong>, please complete a <strong><a class=\"more\" href=\"https:\/\/www.macalester.edu\/business-services\/checkrequest\/\">Check Request.<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"styled__StyledNode-sc-6ox0qd-0 iiToDe\" data-slate-leaf=\"true\"><span class=\"styled__StyledAdditionalNode-sc-6ox0qd-1 WmbfE\">Questions<\/span><\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Contact Accounts Payable at&nbsp;<\/span><a href=\"mailto:aptaxdocs@macalester.edu\"><span style=\"font-weight: 400\">aptaxdocs@macalester.edu<\/span><\/a><span style=\"font-weight: 400\"> or payroll at <\/span><a href=\"mailto:payroll@macalester.edu\"><span style=\"font-weight: 400\">payroll@macalester.edu<\/span><\/a><span style=\"font-weight: 400\"> with questions. &nbsp;<\/span><\/p>\n\n\n\n<p>&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>Gift cards, gift certificates, and certain tangible gifts purchased with College funds and awarded to any individual are considered taxable income and are subject to withholding, regardless of amount.\u00a0\u00a0The Macalester College Taxable Prize or Award\/Gift Record (see below) collects required information to report to the Internal Revenue Service (IRS) the taxable portion of prizes or [&hellip;]<\/p>","protected":false},"author":44,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2751","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages\/2751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/comments?post=2751"}],"version-history":[{"count":43,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages\/2751\/revisions"}],"predecessor-version":[{"id":8705,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages\/2751\/revisions\/8705"}],"wp:attachment":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/media?parent=2751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}