The possibility that frequent flyer and other rewards will soon be taxed has filled the blogosphere. But the rumors are heading down the runway before they've even got clearance. What's the real story from the IRS?
There's nothing new about governments trying to use tax as behavior modification. They've been doing it forever. Now the behavior being targeted in some areas of the country is the choice at the grocery store of "paper or plastic."
BDO USA LLP (BDO) the seventh largest US accounting firm, agreed on June 12 to pay a civil penalty of $34.4 million to the IRS and forfeit $15.6 million to the US government as part of a deferred prosecution agreement.