Taxing Your Miles- Short Report on ABC News 7 in NYC

Discussion in 'General Discussion | Miles/Points' started by MLW20, Feb 1, 2012.  |  Print Topic

  1. MLW20
    Original Member

    MLW20 Gold Member

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    ABC Channel 7 in NYC ran a short report on the 11:00 News regarding the government taxing our airline miles. I figured it would be of some interest here so I watched the report a couple of times and jotted down what the reporter said.
    Here it is:
    "All of those incentives offering free airline miles may not be so free after all. Free miles could cost you like when you open a bank account and get free miles. The IRS now says those miles are considered taxable. However the taxable rule does not apply to free miles you earn either from flying or buying merchandise."

    The quote makes up the full news report which lasted at most 30 seconds. I made a post to my blog about this with a few thoughts at http://michaelwtravels.blogspot.com/2012/02/abc-news-channel-7-nyc-taxing-your.html
     
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  2. deant
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    deant Milepoint Guide

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  3. Jeff the Wanderer

    Jeff the Wanderer Silver Member

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    Seems like their broadcast was just enough to get people worked up and worried without providing any real details to help people understand the rules. Gotta love the when the news stations use scare tactics to try to make their ratings go up.
     
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  4. MLW20
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    Yes I know it is being talked about on MP and on many blogs. Just wanted to share this short, local news report. It said pretty much nothing but for people not following, it gave a drop of info on what was going on.

    The report was tossed in during the middle of the broadcast like a 30 second filler. I rarely ever watch local news but saw a promo for the story while watching Jeopardy during dinner. Figured I'd tune in to see what they had to say.
     
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