Contractors must use the formats provided in the below Post Award Exhibits. Contractors are required to justify their Economic Price Adjustment (Clause 552.216-70), Price Increases above 10% and 25% for paper products with letters from their suppliers or any other sources that are applicable.
Previously, the victory tax was applied to all medalists' reward money and the value of their medals. During the last Olympics, gold medalists received a sum of $25,000, silver medalists raked in $15,000, and bronze winners collect $10,000 â all of which were taxed as income. Meanwhile the value of medals were roughly $600 for gold, $300 for silver, and only $4 for bronze (which are mostly made out of copper).
INCOME TAX IMPLICATIONS OF LONG-TERM PER DIEM Per Diem and other travel expense payments for most employees are taxable. However, they are only nontaxable as long as the employee is away from their tax home. It is relatively easy to determine the tax home for most employees as the work at one main location. However, where an employee does not work the majority of their time at their tax home / main location, it becomes more difficult to determine the employeeâs tax home, and therefore whether per diem is taxable. If the employee does not work at their tax home / main location at least 50% of the time (vacation time does not count toward time worked at the tax home / main location), then the