Oscar gifts come at a cost: U.S. tax authority, Academy Awards agree on taxes
LOS ANGELES (AP) - While the U.S. government reminded celebrities that gifts to curry their favor constitute taxable income, the fountain of free luxury goods that rains upon the already rich and famous is unlikely to dry up any time soon.
IRS, Academy Awards Reach Tax Agreement
Movie stars enjoying the lavish gift bags handed out at this year’s Oscars will get some decidedly unglamorous notices: don’t forget to pay tax on the windfall.
