Situations falling outside of the below criteria should be treated as taxable income to the speaker. The only entity to which a payment may be made without constructive receipt arising is the individual’s employer (the University of Washington), and only if the below criteria are met. There are a limited set of circumstances under which a speaker may avoid constructively receiving honoraria or other speaking fees. However, the speaker who constructively receives income is entitled to a charitable donation deduction as a result of this transaction. The principle of “constructive receipt” refers to the speaker’s ability to control where the payment is directed. The IRS treats such payments as “constructively received” by the speaker, even though donated to another organization. In most cases, these payments will be considered taxable income to the University employee, even though donated. In some instances, a University of Washington employee who is to receive an honorarium or payment for services from another institution may not wish to receive the honoraria, but instead may wish for it to be donated to a particular charity or institution.
Tax Trivia: Sales and Use Tax in Complex Areas.
2021 receipts code#
Taxability and Suggested Object Code Grid.High Technology Deferral - University Policy and Procedure.High Technology Sales Tax Deferral on Construction.Exemption for Research Related Machinery and Equipment.
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