IRS Taxes on Gold Medal Winners: $9,000. True or False?

Written by Gary North on August 2, 2012

MedalTax

If an American wins a gold medal at the Olympics, will the IRS collect about $9,000? True or false? True — maybe. It depends on his post-endorsement income. And why not? The U.S. Olympic Committee awards every gold medal winner in every sport, no matter how obscure, a cash payment of $25,000. You didn’t know […]

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