Form Rev-415 As - Employer Withholding Information Guide Page 4

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otherwise – unless specifically excluded (see Exclusions from
Compensation, Page 3) Compensation includes, but is not
limited to:
•
Current, deferred or prepaid remuneration for services;
•
Remuneration for refraining from services; and
•
Amounts paid as a result of:
(A) Initiation, modification, rescission or breach of an
employment contract;
(B) Unlawful practice with respect to terms, conditions
or privileges of employment; or
(C) Unlawful discharge; failure or refusal to hire; or
deprivation of employment opportunities.
Employee compensation is not limited to remuneration
received for positive action, remuneration that is contractually
enforceable or remuneration paid directly by the employer.
Thus, employee compensation can include (but is not limited
to):
•
Tips and other amounts over which the employer does
not have control, receipt, custody or payment;
•
A bonus or sum in excess of salary given a professional
athlete for signing with a team;
•
Payments to current and former employees for a
covenant not to compete; and
•
Back or front pay for a period of time during which an
individual was wrongfully separated from a job, and front
pay paid in lieu of reinstatement.
Compensation can encompass many forms of remuneration,
including, but not limited to:
•
Salaries;
•
Wages;
•
Commissions;
•
Bonuses and incentive payments, whether based on prof-
its or otherwise;
•
Fees;
•
Tips; and
•
Similar remuneration received for services rendered by
an individual, whether directly or through an agent, and
whether in cash or in property.
Compensation paid in any medium other than cash is valued
at its fair market value. Some examples of mediums other
than cash include:
•
Foreign currency;
•
Checks or other negotiable instruments;
•
Freely transferable readily marketable obligations or
other cash equivalents;
•
Property interests;
•
Below-market-rate loans; and
•
Discharge of liabilities.
2

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