Originally Posted by RedsBaron
I don't believe that there will be any tax consequences unless someone gives GAC more than $11,000-in that event, the giver of the gift may owe federal gift tax.
That said, I would welcome the input of any CPAs or lawyers who specialize in tax work.
I'm not a CPA, so my expertise isn't in the area of taxes, but I think you're right on the $11K figure. I don't think gift cards and the like would present any problems there.