IRS to Team USA Medalists: Pay Up!

by Brady Wilson | ATR.irg
August 4, 2016

The 554-member Team USA has descended upon Rio de Janeiro, Brazil to compete in the Olympic Games. As a reward for winning Gold, Silver, or Bronze, U.S. athletes receive a monetary reward. But the IRS still wants its share.

The U.S. Olympic Committee recognizes its medalists with $25,000 for gold, $15,000 for silver, and $10,000 for bronze. But the IRS considers these amounts to be regular income, subject to taxation.

A gold medalist from Team USA could end up facing a tax bill of $9,900 per gold medal, $5,940 per silver medal, and $3,960 per bronze medal.

To be clear, these are the maximum possible tax amounts, and vary widely based on an individual’s tax circumstances and available deductions. Still, the athletes must reckon their medal winnings with the IRS code, a headache they can do without.

17 Comments - what are your thoughts?

  • Phil Esposito says:

    Isn’t that wonderful, you work hard at a sport all your life to represent America in the games and the irs wants you to take it in the ass for all your hard work.

  • I Seigel says:

    Why is this objectionable? Don’t you want everyone to pay their fair share? Dont poker players, jockeys, race car driver drivers or basketball players have to pay taxes on their winnings? This is another non story. Total bullsh*t.

    1. Worried Vet says:

      In most states with income tax, then federal tax, sales tax, school tax, water tax, cable tax, and mud tax social security tax and Medicare tax, and it averages some where close to 60% of every dollar earned. Most people who are working and make over 150,000.00 a year don’t get enough deductions to not pay tax. How much of their income is a fair share. The ones who get away with not paying their fair share are huge companies like GE. They receive a refund and is a big backer of hillary. Maybe liberals should look for the truth and who caused the problems this country is in. When Warren Buffet says he pays less than his secretary it’s a bold face lie. He pays les because he has high dollar accounting firms on his payroll to get every deduction they can. The average middle class person don’t get those. Wake up liberals they have been lying and brainwashing you for decades. I believed in them once even voted twice for Bill and for Hillary in 08 but I started thinking for my self and not believing Evey bit of propaganda the very biased media puts out. The democrat party isn’t what it used to be for decades. They went down the socialist rabbit hole to far to come back. They want us to be like Venezuela and look at how that country is doing. After two decades and not even close to the debt we have that country is going to die a slow death taking the population with it.

      1. I Seigel says:

        GE a supporter of Hillary? Huh? Why is it that the US Chamber of Commerce overwhelmingly has backed Republican candidates for the past 30 years, at least.
        Who caused the problems this country is facing?? Well, look no further than Gov Sam Brownback and the Republican legislature of Kansas. The state is imploding, and conservative ideologues are being voted out or rejected by the voters there in favor of candidates who will work to get things done. This isn’t my opinion – just look up the news for the past couple of days.

        1. Worried Vet says:

          GE supports many democrats. Kansas maybe a problem I would have to research the facts. Take a look at California, Chicago,Detroit, D.C. and most any liberal run city or state their policies have bankrupt those places. They should learn after decades of their policies something is wrong when things are worse and not better. It’s obvious it’s not working and they can’t keep blaming the GOP when there are none or enough to pass any laws. Just because their really good at blaming someone else don’t mean it’s true. Just do some reading about the relationship of the democrat party and the kkk. Things like who voted against civil rights over and over again, who voted against making lynching of blacks a federal crime, who voted against women voting, who walked out of Congress and the civil war when they didn’t want to free the slaves. What party Jim crow belonged to Robert Byrd a big shot with the kkk . People have been lied to for so long the lies have become the truth to them. I believe Hitler said that line tell a lie long enough and keep repeating it and people will believe it’s the truth. Well since LBJs time liberals have kept repeating lies about history to put the blame on someone else. I’m tired of being lied to or them shoving lies down my throat trying to make it true. I’m tired of them changing history and getting away with it to hide their true part in slavery. They say the GOP is racist when their the biggest racist group in this country. All they care about is votes and the money and power those votes bring them. They don’t care about us after we vote until the next election.

          1. I Seigel says:

            Yes, there’s a history of the Dems and the KKK. Don’t you have anything more recent, like from the last 40 years or so? Geez, you DO know it’s the 21st Century, right?

          2. Worried Vet says:

            Yes I know. Your a liberal who don’t care how bad they screw up this country. The fact was they blame others for their racism and hate even though they know it’s not true. They keep deflecting the truth to avoid people seeing what they really are. I’m not going to debate a brainwashed can’t think on their own liberal. It’s deflect and avoid facts right out of their liberal playbook. It’s a waste of time. If Hillary wins you might regret being so brainwashed you can’t think for your self. To me it’s lazy and stupid to not seek the facts instead of laying down and letting them do what they want even though common sense tells you their wrong.

          3. I Seigel says:

            Strange, I didn’t hear any racist statements or sexist statements or statement besmirching the military or fear-mongering coming out of the DNC. Lots coming out of Trump rallies and the RNC and Trump himself. How do you explain that? I don’t think it’s liberals who are the unthinking, brainwashed ones.

  • Rachel says:

    Athletes spend a lot on training, travel, athletic wear etc. Not everyone has a good sponsor. If the medal is taxed, they should be able to deduct expenses. ,

    1. Kent2012 says:

      watch out you will cause iseigalinsky’s panties to get wet..he/she is a died in the wool euro coffee house socialist that admires clowns like the one squatting in the oral office…

  • generalJed says:

    According to Obama, “they didn’t build that”.The IRS should look at Congressman Charlie Rangel (D,NY) and Al Sharpton, both of whom have bragged about not paying taxes and owe millions. What about Hillary, who is into money laundering? These athletes should be given an exemption for their exceptional hard work in representing our country.

    1. Edithvjenkins2 says:

      <<t:y. ★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★:::::::!!bx100a:….,….

    2. Kent2012 says:

      come on now Jed…chuckie, alphonse sharpless and the ho all work hard representing folks like the brain dead clowns in the “bowel licking movement” and the “new black pu$$ies” that we see on TB so often and the millions of mislead estrogen voters that think it is “time for a ho for president”…..we already have one, just because the color is wrong is no reason to worry..not only that we got two birdies with one ho these last two times…an illegal alien may even count for more than one…

    3. I Seigel says:

      So should soldiers, police, firemen, and other first responders. Why just limit it to Olympic athletes. And should the athlete’s endorsement incomes get taxed?

      1. Tiarajreed3 says:

        <<a:y. ★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★:::::::!!bx314a:….,

  • justinwachin says:

    The IRS goes after every other American’s income. I don’t know why the athletes should get treated differently.

  • Bob says:

    Fits in with the Obama mantra: If you can dream it, you can achieve it. And if you can achieve it, we can tax it. After all, you didn’t achieve it by yourself, the government LET you achieve it. The IRS wants 40%, the Mob only takes 10% as a “taste”.

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep the Fake News Media in check.

Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.