TRAVERSE CITY, Michigan (AP) -- Some bonus.
Hourly workers at Tower Automotive received $15 gift cards redeemable at Meijer grocery-retail stores before Thanksgiving. Then the automotive supplier decided the cards were "same as cash" gifts subject to federal and state income taxes totaling 36.75 percent.
That means the "gift" will take $5.51 out of the workers' next paychecks.
Full story at this link
http://edition.cnn.com/2003/US/12/12/offbeat.bonus.ap/index.html
Hourly workers at Tower Automotive received $15 gift cards redeemable at Meijer grocery-retail stores before Thanksgiving. Then the automotive supplier decided the cards were "same as cash" gifts subject to federal and state income taxes totaling 36.75 percent.
That means the "gift" will take $5.51 out of the workers' next paychecks.
Full story at this link
http://edition.cnn.com/2003/US/12/12/offbeat.bonus.ap/index.html