iPhone = iTax: Apple Employees Will Have to Pay IRS for Steve Jobs' "Gift"

taxprof.typepad.com — Apple has announced that by the end of the month it will give its 18,000 full-time U.S. employees a free 8-gigabyte iPhone (retail price: $599). Apple will have to include the $599 on the employees' W-2s as taxable compensation, and the company will have to pay employment taxes on the amount as well. Jul 3, 2007 View in Crawl 4