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Joined: 02/16/2001
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Stech
Lifetime

Last statement made me laugh , each school will staff former IRS agents 🤣

Posted: 02/26/2024 at 08:48 PM ET
(In response to this post by PadrosWindup)

Thread Replies (17)

Full Thread →
Does anyone think that the IRS will wind up taxing the athletes for the
anotherdamnyankeehokie • 02/26/24 07:10 PM ET
Tax fraud is/is not an NCAA violation so players can keep playing. Right?
astrohokiebob • 02/28/24 07:41 AM ET
The employers will be turning in their documents, so yes.**
IB4TECH • 02/27/24 11:38 AM ET
I'm sure they will to an extent, but if they have to use 100% of that money
reestuart • 02/27/24 08:50 AM ET
I'm no tax accountant but I sure do know from paying taxes that benefits
anotherdamnyankeehokie • 02/27/24 12:39 PM ET
it's certainly a benefit, but they aren't able to keep it. It's used
reestuart • 02/27/24 12:50 PM ET
How is that different from the income I use to pay my son's tuition?
PadrosWindup • 02/27/24 12:04 PM ET
If tuition is considered income, the athlete has to use 100% of that to
reestuart • 02/27/24 12:24 PM ET
Absolutely they will...**
Hokie83 • 02/27/24 08:46 AM ET
Why wouldn’t they if they are employees?**
Stech • 02/26/24 08:34 PM ET
That is the beauty of NIL income.
PadrosWindup • 02/26/24 08:32 PM ET
Last statement made me laugh , each school will staff former IRS agents 🤣** ◄
Stech • 02/26/24 08:48 PM ET
yeah, the whole tax evasion theory will be a non-story.**
reestuart • 02/27/24 12:25 PM ET
Wait - are you staying that paying taxes on these benefits will
133966Hokie • 02/27/24 05:27 PM ET
No, they'll pay taxes on actual income.**
reestuart • 02/27/24 05:41 PM ET
An you imagine Kentucky and Louisville collectives turning each other in
PadrosWindup • 02/27/24 06:45 AM ET
Yes. The IRS rules on employee compensation are quite clear**
tarheelblue • 02/26/24 08:15 PM ET
Yes, if they are employees. The first $5,250 per year is exempt. **
vtfaninnc • 02/26/24 07:40 PM ET