Harry Gross: IRS is up in the air on whether to tax frequent-flier miles
DEAR HARRY: I have written to you before concerning my reason for having more than two credit cards: I get a lot of frequent-flier miles by opening new credit cards. But this has now had an interesting twist. My accountant just informed me that those miles (really, their cash value) are going to be taxed by the high muckety-mucks at IRS. He said he'd get back to me when he got more info on just what I have to do. Is he on the ball here, or is he just setting me up for an additional fee?