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  • IRS Required Updates to 8.1.4 Determine the Allowability of Gifts for 2026

    Jan 5, 2026 10:00 amAccounting and BudgetingBuying and ContractsEquipment ManagementFY 26Paying PeoplePayments to the UniversityPolicies and ProceduresTravel

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    Per an IRS change for calendar year 2026, Business & Finance Policy 8.1.4 Determine the Allowability of Gifts information on Tangible, Non-Monetary Gifts and Prizes to Employees has been updated in the Taxable and Reportable section to state that “de minimus benefits must be occasional, infrequent, and not routine.”

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    For questions about this policy, please contact University Payables at obfsupay@uillinois.edu.

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