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IRS Guidance on Reporting Gifts, Branded Items, Meals, and Perishables
April 16, 2025
Q. Does the IRS have specific thresholds for reporting gifts and company-branded gifts, including defined dollar amounts that need to be reported for each? Should all gifts be documented regardless of their value to ensure compliance if the total exceeds $600? Additionally, what are the reporting requirements for meals and perishable items?
A.
(Answered by IOFM's third-party tax expert)
The IRS does not have set thresholds for what constitutes "de minimus." Prior non-authoritative guidance from…
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