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[–]17686947?0 points
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IRS rules would allow them to pay the taxes also, but that means they would have to pay out money and that ain't happening (and also pay taxes on the taxes). These prizes are given to them by companies for free in exchange for "promotional consideration", basically meaning they give them the prize to give away in exchange for the host describing it like it is a commercial for the item. It really is a neat racket that they treat it as if they never owned the item and so they don't have to claim anything on it for expenses or income.
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[–] 17686947? ago
IRS rules would allow them to pay the taxes also, but that means they would have to pay out money and that ain't happening (and also pay taxes on the taxes). These prizes are given to them by companies for free in exchange for "promotional consideration", basically meaning they give them the prize to give away in exchange for the host describing it like it is a commercial for the item. It really is a neat racket that they treat it as if they never owned the item and so they don't have to claim anything on it for expenses or income.