If the IRS will be taxing on the basis that I am 'promoting' the
products or services - not simply receiiving gifts - then, the IRS
will NOT be taxing my free rooms and other comps.
That's because 99.9% of the people in this world couldn't care
less what I think. They probably don't care what my opinion is
about the new spa at Treasure Island.
There is a big difference between gifts given by awards shows
and comps given by casinos. The Belllagio giving some
unkown player 4 free nights is vastly different than giving
something to a high-profile celebrity, which then becomes
'news' and reported across the world in articles such as the
one quoted.
BTW. the Yahoo! article quoted says that the goodie bags
are for EMMY presenters, not the winners. I beleive that
the IRS tax issue is due to the Academy of Television Arts
and Sciences (who present the EMMY's) deducting the
cost of the goodies given to presenters as a business
expense. And, they are required to issue 1099's to the
recipients of those expenses that the ATAS is deducting
on their tax returns.
ยทยทยท
On 8/16/06, VpKing77 <vpking77@yahoo.com> wrote:
http://news.yahoo.com/s/eo/20060815/en_tv_eo/19761
The IRS is now taxing the goodie bags that Emmy winners are given. It
is the IRS contention that the bags are given to attendees to promote
the products and not just gifts. The spa visits, free vacations to the
Bahamas and health club memberships are all taxable. What's the
difference if the Bellagio gives a player 4 free nights. Wouldn't that
be taxable. It certainly could be considered a vacation. The RIO sends
out 3 free nights and spa treatments. What is difference between that
and the Emmy presenter be given a hotel room and spa treatments.
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