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new bill:Frequent Flyer Tax-Free Liability Act of 2003'

new bill:Frequent Flyer Tax-Free Liability Act of 2003'

Old Mar 13, 03, 8:49 am
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Join Date: Jan 2001
Location: ORD
Programs: AA EXP, HH Diamond
Posts: 376
new bill:Frequent Flyer Tax-Free Liability Act of 2003'

A new bill was introdcued in the US House regarding tax liability on frequent flyer miles. The bill is H.R.1139 Frequent Flyer Tax-Free Liability Act of 2003. See http://thomas.loc.gov/cgi-bin/query/z?c108:H.R.1139:

In summary the bill calls for "Individuals should be able to receive and use frequent flyer benefits for business or personal use without incurring tax liability"
This is the current IRS stand. The purpose of the bill is to prevent the IRS from changing the treatment of frequent flyer miles. It is a subject that seems to keep popping up every few years.
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