Tag: gift baskets


Not All Free Stuff Is Free

According to the New York Times, the Academy of Motion Picture Arts and Sciences has reached an agreement with the Internal Revenue Service over gift baskets given to presenters and performers at the Oscars. Previously, the Academy paid an undisclosed amount to cover the taxes on the gift baskets, but going forward the recipients will receive 1099 forms for the value of the items in the baskets and will need to pay their own darn taxes.