Emmy Swag and a Tax Reminder to Celebs
Filed under: Events, Celebrity Shopping
With the Emmy Awards approaching in just a few weeks, the Academy of Television Arts and Sciences (ATAS) took the time to remind celebrities that their swag bags are considered taxable income and need to be reported as such when tax season rolls around. This is no small thing, either. The value of this year's Emmy gifts is estimated to be between $27,000 and $33,000. The ATAS even sent out letters to the presenters asking for compliance with the various tax codes with a waiver to sign, proving that they read it.
One of the reasons that the ATAS is being rather strict is that the IRS reportedly stands to collect over $1million from Oscar bags alone, which were worth over $100,000 each last year, and the ATAS doesn't want to be held responsible for any tax problems stemming from the Emmy Awards.
For a full list of the goodies that the Emmy presenters will be getting, click past the jump.
