Monday, April 20, 2009

Reality TV Tax Returns

Everybody knows that gameshow and gambling winnings are includible as income on your federal tax return right?

Imagine the chutzpah of Richard Hatch, the first winner of the reality TV show Survivor and perhaps the most recognizable reality gameshow winner of all time, in completely failing to include the $1 million prize money and other related income on his tax return.

Was he gambling on the hunch that I.R.S. agents don't watch reality TV? Did he think everyone would forget about that million he won? Was he hoping that he would be able to slide through this return with the same ease as he had with so many returns before?

What Hatch failed to realize is that the game was not over after the show ended. He's faced penalties of up to $500,000 and a five year sentence.

Maybe he could have took part in a new reality court TV series, you heard it here first :)

No idea what the outcome was though?