Fix The Tax Code: Holiday Bonus!

ByKelly Phillips Erb

As I mentioned on yesterday, holiday bonuses (and the equivalent) are taxable. Seems a little Grinch-y to some folks. So today’s fix the tax code Friday question is:

Should holiday bonuses be taxable? And if not, which holidays should be included for purposes of such an exemption?

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Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and speaker who explains taxes, IRS news, financial crime, scams, and the law in plain English.