When Oprah gave away Pontiac G6 sedans to her TV audience, was the value of the cars taxable? Custom Essay

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Question: When Oprah gave away Pontiac G6 sedans to her TV audience, was the value of the cars taxable? (((My hint for the writer: Title 26: Section 61 of the tax code; for references need to have 2 court cases)))

Question 2: On Labor Day weekend in 2006, World Furniture Mall in Plano, Illinois, gave away $275,000 of furniture because the Chicago Bears shut out the Green Bay Packers in the team’s football season opener at Lambeau Field in Green Bay (26-0). Was the free furniture in the form of a discount or rebate taxable, or should the furniture company have handed the customers a Form of 1099-MISC? (((Hint for the writer: Gross income & cost bais; in addition, he/she can look into the Rev. Rul. 76-96, 1976-1 C.B. 23 and Rev. Rul. 88-95, 1988-2 C.B. 28.)))

Points will be assigned for layout, conclusion, and reasoning as well as for references. Particularly the instructor is interested in why! Need to show a total of 6 references for both questions(4 of which need to be court of law decisions-aka court cases; 2 for each question)

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