Free Stuff Isn’t Free to the IRS

According to the LA TImes, “Next week, nominees for this year’s Emmy awards can expect the usual “gift basket” full of award season freebies: lavish jewelry, plasma TVs, Celine Dion backstage passes, gold-plated cellphones. But there will be a lump of coal at the bottom of each one: an IRS tax form.” While gift baskets have long been a staple of awards shows, they have grown increasingly lavish in the past few years as companies realized the advertising potential of having their product associated with top celebrities and events. hollywood gifts

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