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with Amy Wall

Taxation of Prizes and Awards

Learning Objectives:

• At the end of this webinar, you’ll be able to:
  • Understand the crucial differences between prizes, awards and gifts
  • Define an employee achievement award
  • Advise clients as to the tax issues associated with lottery winnings
  • Discuss the tax consequences of gambling winnings
  • Explain the taxation of fantasy sports


Course Overview

Course Details
  • Level: Beginner
  • Cost: Free
  • Field of Study: Taxes
  • Advanced Prep: None
  • Credit Type: CE & CPE
  • Credit Hours: 1
Course Description
The taxation of prizes, gift and awards has a long and fascinating history. Our current tax principles of the receipt of prizes, gifts and awards is the outcome of many significant court cases. We’ll discuss these important court cases and see how some of the early ideas about the taxation of prizes, gifts and awards have been completely overturned in later decades. Then we’ll delve into employee achievement awards – taxable? Maybe!


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    Course Details