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Academy Awards Gift Bags Taxable

Oscar glitterati may be required to pay thousands to IRS for gifts including free Lasik.


LOS ANGELES, March 20, 2006 -- SWAG (Stuff We All Get) gift-packed bags welcomed guests for this year's Oscar ceremony. The bags included a $7,000 Victoria's Secret underwear set and a coupon for Lasik surgery. Lasik is a surgical procedure intended to reduce a person's dependency on glasses or contact lenses.  The bag of gifts is worth approximately $100,000.

The US Internal Revenue Service immediately reacted that the bags given to Oscar attendees count as taxable income. Anyone who accepted the bag may have to pay $30,000 in tax!


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