Following up on our post last week on the accord reached by IRS and Hollywood on the tax treatment of celebrity gift bags:  USA Today has a great story, IRS Is Watching Emmy Show of Affection, by Karen Thomas & William Keck:

There’s a new word circulating in Emmy circles: taxes. Those stars who pick up all that loot in awards show gift bags and promotional gift suites are supposed to pay a share of the value to the IRS. And this year, the IRS is making sure they know it: "The dollars involved are so lavish that we need a national outreach program" to raise awareness of the rules, the IRS’ Beth Tucker says….

Says Paul Caron, law professor at the University of Cincinnati and founder of the TaxProf Blog at www.taxprof.typepad.com: "From the stars’ perspective, it’s more trouble than it’s worth." Tax-wise, gift suites are like business conventions, Caron says, and traditionally the IRS has ignored such freebies. But celeb swag is now "a higher-octane version of that. I’d be nervous."

Check out:

• Video:  Swag Suites:  Peek Inside a Luxury Emmy Gift Lounge
• List of Items in the Official Emmy Gift Bag (valued at $27k – $33k)
• List of Items in Various Swag Suites