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IRS warns celebrities over awards’ goodies
18-Aug-2006
Written by: Alex Lang
IRS launches campaign to remind celebrity goodies are taxable income
Hollywood award presents will be getting an extra surprise in their goodie bags – a tax form.
The Internal Revenue Service launched a new campaign Thursday to clarify to celebrities the bags they receive for being presenters at awards shows are taxable goods, and must be declared on tax forms, according to the Los Angeles Times.
Award bags have grown increasingly more extravagant over the past years as products are hoping to find celebrity endorsers. Examples of goodies found in the bags include high-end electronics, jewelry and vacation packages.
"There was an awful lot of publicity about the ever-increasing value of these baskets," IRS Commissioner Mark V. Everson told the Times. "And somebody said, 'Why don't we do something about this?' It was just so clearly taxable we felt we had to step in."
The Academy of Motion pictures said it would stop giving away goodie bags beginning with next year’s Oscar ceremonies.
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