1.The Los Angeles Lakers defeated the Miami Heat in Game 6 of the Finals in this dark 2020 to claim their 17th NBA championship, a tie for the most in league history. In the history of the NBA, every year all the members of the winning organization can get a customized championship ring. It goes to players, the coaching staff, the administration, and if the management allows, to some other important members too. Those championship ring not only represents honor but is also valuable and unique.

Issue: Is the championship ring will be part of the player's overall income? If so, how is it taxed?

2.The pandemic has caused a historical shift in the way many companies operate. In response to the pandemic, companies are trying to find ways to keep their remote employees as satisfied with their jobs as in a normal office setting. In the CNN article titled "Tracksuits and Laundry Service: Companies are getting Creative with Remote Employee Perks", one employer describes the negative effect that zooming all day has on them compared to the normal office setting. One company, Harness, has attempted to alleviate some of the negative feelings by sending employees boxes of various items. One of these distributions was valued at $125 per box and was in response to the cancellation of their annual picnic. This box was filled with items the employees might have found at the picnic such as sunscreen, water bottles, and fun activities that they could recreate from the safety of their home. This company also had prize contests for photo submissions of the boxes and additional compensation in the form of gift cards for virtual "happy hour" and departmental gifts. Other companies such as Fast are doing similar distributions to their employees to make up for the lack of team meals that often occurred in normal work settings. However, other companies are focusing on the work life balance upset due to the pandemic. Another important shift following the pandemic is the shortage of childcare for parents working from home. Many parents find themselves spending long hours keeping their children entertained. In response to this, companies began offering online summer camps through partnerships with local YMCAs and similar programs. UKG spent approximately $250,000 on such programs for their employee's kids. Bluedog Design offered their employees free laundry pickup and delivery through partnering with Rinse for Business. Splunk employees received extra time off with no questions asked in order to provide some relief if an employee needed to take care of their family.

Issues:

#5 a) What are the tax consequences of these perks to the employee?

#5 b) How does the company treat these perks?

Can you give me some suggestions with related regulatory information