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Saturday Happenings
Sunday Happenings
Jordan's Furniture ran an ad right after the Red Sox won the game. President and Chief Executive Eliot Tatelman emerges in swim goggles, congratulates everyone on their free furniture, and gets a good champagne spraying.
Anyone who bought a mattress, dining table, sofa, or bed at Jordan's in the spring will be reimbursed. All they need to do is fill out a rebate form and go over the FAQ to make sure you dot all the i's and cross the t's.
Eliot Tatelman wasn't entirely crackers when he started the promo. He took out an insurance policy to cover the costs of all the reimbursements, and he told ABC News that he rooted for the Red Sox, even though a Rockies win would have helped his bottom line.
Those of you who bought a big-ticket furniture item during that time must be tickled, but the New Hampshire Union Leader would like to remind you that the IRS will be interested in your refund money: "With federal tax law requiring taxpayers to report prize income greater than $600, Jordan's will accordingly issue owners a Form 1099 and notify the IRS."
Image from the Jordan's Furniture website.
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Didn't the buyers spend already-taxed money on the furniture? I can see where a 1099 would be appropriate for the hotel Tatelman mentioned, since it would have been a deductible expense for them. But why private buyers? Using that reasoning, every time I get a really good buy at Building 19, I owe tax on the savings if someone called them a "prize" rather than just a lower price. And the government wonders why some people try to evade the IRS....