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 their 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 hand the customers a Form 1099-MISC?

Please research you have selected in the following manner:Please provide a statement or advice letter addressed to client analyzing the questionpresentedthrough relevant: 1) Code section, 2) IRC regulation, 3) a case on point (with similar facts as in your question, NJ or Federal), and 4) a recent article.

Your response should be well organized and neatly presented. Make sure your answer includes the following:

1. Clearly identify your topic and what it is you would like to learn;

2. provide a copy of the code section(s) applicable to your question;

3. indicate how you learned which section applies;

4. provide a copy of an explanatory regulation (which includes an example of your problem);

5. provide a copy of a case which deals with your topic (NJ or Federal);

6. provide a copy of a recent article which deals with your topic (within the last 10 years); and

7. explain which on-line or other resources you used to locate each of the above (code section, regulation, case and article), and provide information on how you navigated through these resources.