To: kingu
Absolute bunk. That's not income, that's a gift. There is a lot of case law about "gifts" under the Internal Revenue Code. If you give a gift to a friend or family member out of "disinterested generosity," it's not income to the recipient; but if you give someone something out of a business motivation, it is legally considered income to the recipient even if it's a "gift" in the sense that you had no legal obligation to give it to them.
To: Lurking Libertarian
but if you give someone something out of a business motivation, it is legally considered income to the recipient even if it's a "gift" in the sense that you had no legal obligation to give it to them.
So the telephone book that just got dropped off on my doorstep is now income? The junk mail in my box? I got some calendars in the mail as well; those must be income as well.
I'm not jumping down your throat, it just seems absolutely idiotic on the part of the IRS. If they don't want to let companies write off these things as 'advertising' - then fine, don't let them. Crud like this will get me to support the NRST.
53 posted on
03/07/2006 3:07:29 PM PST by
kingu
(Liberalism: The art of sticking your fingers in your ears and going NANANANA..)
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