“Mattress Mack placing more wagers on Astros to win World Series”
As World Series Game 1 approaches, Gallery Furniture owner Jim “Mattress Mack” McIngvale is wrapping up his “Win it All” Astros-related promotion, and he’s still placing bets on the Astros to cover potential refunds of almost $20 million in mattress sales if the Astros beat the Nationals in the best-of-seven series.
One bit of good news for customers is that if they do receive a refund on their mattress purchase with an Astros series victory, the refund is not taxable, said attorney Roger Aksamit with the law firm Thompson and Knight.
“Based on (the contract), to the extent anyone qualifies for a partial refund of monies that were charged in connection with an original purchase, the amount of the refund is simply a reduction of the purchase price for the merchandise and a non-taxable refund,” Aksamit said. “Therefore, no tax is due on that amount.”