informationliberation
The news you're not supposed to know...




Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
(more)
Article posted Aug 01 2012, 9:55 PM Category: Economy Source: Americans for Tax Reform Print

Win Olympic Gold, Pay the IRS

U.S. Olympic medal winners will owe up to $9,000 to the IRS.

WASHINGTON, D.C. While 529 hardworking athletes proudly represent the United States in the 2012 Olympics, any medals and money they earn wearing red, white and blue will be taxed by the IRS. According to research done by the Americans for Tax Reform Foundation, U.S. Olympic athletes are liable to pay income tax on medals earned and prizes received at the London games.

American medalists face a top income tax rate of 35 percent. Under U.S. tax law, they must add the value of their Olympic medals and prizes to their taxable income. It is therefore easy to calculate the tax bite on Olympic glory.

Full Article





Latest Economy
- Payday Loans: Leave this Industry Alone
- Give'em the Old Razzle Dazzle
- "BitLicense" Foolishness
- The Costs and Benefits of Ethanol
- Bureaucracy Unlimited
- Who Will Regulate the Bank Regulators?
- New Report Shows How Western-Imposed Prohibition Policies Hurt Poor Countries
- Venezuela To Start Fingerprinting Supermarket Shoppers









Comments 1 - 3 of 3 Add Comment Page 1 of 1
Anonymous

Posted: Aug 02 2012, 2:01 AM

Link
70178 the linked article purposely omits important information

"Athletes who make the podium can look forward to a check from the U.S. Olympic Organizing Committee: $25,000 for gold, $15,000 for silver and $10,000 for bronze."

http://blogs.reuters.com/taxbreak/2012/07/30/olympic-medals-gold-to-the-irs-too/
Anonymous

Posted: Aug 02 2012, 2:15 AM

Link
70178 i take that back. the info is there.
Anonymous

Posted: Aug 05 2012, 9:15 PM

Link
6464 But what will Michael Phelps do for dope money?


Add Comment
Name
Comment

* No HTML


Verification *
Please Enter the Verification Code Seen Below
 


PLEASE NOTE
Please see our About Page, our Disclaimer, and our Comments Policy.


FAIR USE NOTICE
This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy



Advanced Search
Username:

Password:

Remember Me
Forgot Password?
Register

To Crush a Cop-Watcher: Prosecutorial Abuse in Ada County, Idaho - 03/27Police Encounters Kill Hundreds of Disabled Americans Every Year, ACLU Argues - 03/23DOJ Report Slams Philadelphia PD, Philly Cops Shoot and Kill People at 6 Times the Rate of NYPD - 03/25New Video Appears to Show Cops Planting Crack in Innocent Man's Car After Brutally Beating Him - 03/27Texas Sheriff Gets Shut Down when Trying to Intimidate Man who Flawlessly Flexes his Rights - 03/27This Cop Got a First Hand Taste of Police Brutality and His Violent Arrest was Also Caught on Video - 03/27"I'm Not Stupid" Monsanto Lobbyist Refuses To Drink Weedkiller After Proclaiming "It Won't Hurt You" - 03/27Police Officer Caught With His Pants Down... Masturbating At Starbucks - 03/27

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up
(more)

 
Top