Q:What is the IRS definition of incentive travel? A: No official definition exists, but incentives fall under the IRS classification of a "business vacation." Jim Gossett, partner with Arnstein & Lehr in Chicago, defines a pure incentive trip as "travel given as a prize for the accomplishment of set goals." The IRS rules apply whether the trip is for employees, customers, or independent contractors. Q: Who shoulders the tax burden in a typical incentive travel program? A: The award ...

Register for Complete Access (Valid Email Required)

By registering on MeetingsNet now, you'll not only unlock the Taxes: your questions answered, you'll also gain access to exclusive premium content.

Already registered? here.