Are Bonuses Taxable?

October 9, 2009 at 8:17 pm Leave a comment

Yes, bonuses are considered supplemental wages and therefore are taxable. The IRS states in its publication Employer’s Tax Guide, “Supplemental wages are compensation paid in addition to an employee’s regular wages. They include, but are not limited to, bonuses, commissions, overtime pay, payments for accumulated sick leaved, severance pay, awards, prizes, back pay, retroactive pay increases and payments for nondeductible moving expenses.”

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Entry filed under: Human Resources (HR). Tags: , , , .

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