Guests to ‘walk the line’ on Oscar goodies bag

Guests to 'walk the line' on Oscar goodies bag

IRS looking to claim £17,500 in taxes on awards gift bag

Anyone fortunate enough to attend the Academy Awards ceremony over the
weekend could be hit with a hefty tax bill on the value of the items they
received in what must surely be the most lavish of all show bags.

Guests who took home gift-packed bags from the Oscar ceremony may have to pay
$30,000 (£17,500) in taxes on their new acquisitions, the Inland Revenue Service
has said.

According to reports from the US, the bags include included a $7,000 (£4,000)
Victoria’s Secret underwear set and a coupon for LASIK surgery, worth
approximately $100,000 (£8,000).

The IRS has declared that the bags given to Oscar attendees count as taxable
income.

IRS commissioner Mark Everson is reported to have said: ‘We want to make sure
the stars “walk the line” when it comes to these goody bags.’

Related Articles

Supreme Court rules against Pimlico Plumbers in landmark employment case

Legal Supreme Court rules against Pimlico Plumbers in landmark employment case

1m Alia Shoaib, Reporter
Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

Personal Tax Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

2m Alia Shoaib, Reporter
Rent-a-room relief – the survey says…

Personal Tax Rent-a-room relief – the survey says…

4m Helen Thornley, ATT Technical Officer
What should the OTS prioritise in its review of inheritance tax?

Personal Tax What should the OTS prioritise in its review of inheritance tax?

5m Alia Shoaib, Reporter
LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

7m Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

8m Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

9m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

9m Emma Rawson, ATT Technical Officer