Oscars and Taxes

Posted by Nick Niesen on November 8th, 2010

Ratings for the Oscars were down a whopping 10 percent compared to 2005. Well, at least the Internal Revenue Service was watching.

Goodie Bags ? Not So Goodie

Actors that get nominated for an Oscar are might happy indeed. Praise rains down upon them for a good performance and better parts are often in the offering. Win an Oscar and the world is their oyster. More important than all of this, of course, is the Oscar goodie bag.

Get an Oscar goodie bag and you know you?ve made it in Hollywood. The bag is a collection of obscenely expensive things. The 2006 goodie bag was valued at over $100,00 and included items such as vacation packages to posh resorts with a butler included, the latest mobile phone gadgets, more vacation packages, private rooms at top restaurants and so on. Heck, who needs to actually win the Oscar?

In a hilarious and cheeky move, the IRS decided to have a little fun with the nominees. Just days before the show, the service issued a press release. It wished all the nominees the best of luck at the show. IRS Commission Mark Everson than reminded the nominees that the goodie bags were taxable and he wanted them to Walk the Line. I kid you naught.

In this instance, the IRS has really gone to far. Why must the agency be such a burden to the hard working professionals in Hollywood? Just one look at Joaquin Phoenix and you could see the effect. Or it could be constipation, but who can really say.

This move by the IRS is particularly overbearing when you consider the non-winners. Winners could care less about the taxes since an Oscar is a guarantee of more roles and more money.

The losers, on the other hand, must suffer twofold. First, they have to do their best acting performance by pretending to be happy the lost. Second, they have to suffer their loss of instant fame. I mean, remember that actor. Name was Johnny Depp or something? He lost and who has heard of him since?