Quote:
Originally Posted by Smed1065
$11.000 Even (especially) gifts are taxed. When the Chiefs got their rings in 2020, for example, Action Network's Darren Rovell noted the Chiefs paid $11,000 per ring, which came out of their paychecks.
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That would have been the required withholding on the taxable value of the ring itself, not the value of the ring.