IRS taxes olympics winners , the medals won and prize money..

[sparked1]

I'm fine with taking the income part but how do you justify taking the medal?

Probably falls under gift tax.

 

[HarmsWay]

Your not the best in the entire world at what you do either.

Doesn't mean they should get treated any different

 

[Robogunner]

Your not the best in the entire world at what you do either.

That's funny I get the money I request.... So, I must be pretty damn good @what I do... So Bill Gates shouldn't pay taxes??? What about Arron Rogers??

It is earned income... It is also well publicized earned income... Keep it quiet or pay up sucka!

 

[oldmetlfan]

I wonder if Obama paid taxes on his Nobel award, and money?

 

[Robogunner]

I wonder if Obama paid taxes on his Nobel award, and money?

He didn't even pay what he owed for his regular job!!!

 

[timbgtm]

I think the money they make should be taxed, but not he medal.

Yep.

 

[Gunfighter]

He didn't even pay what he owed for his regular job!!!

Are you accusing a sitting President of tax evasion?
Plus, the vast majority, if not all, of the Nobel prize money was donated to various charities

 

[Robogunner]

Are you accusing a sitting President of tax evasion?
Plus, the vast majority, if not all, of the Nobel prize money was donated to various charities

I would never accuse the ruler of the free world of such a thing... However, I would like to note that he fell into a 14% tax bracket and I wound up in a 44% tax bracket...

 

[Gunfighter]

I would never accuse the ruler of the free world of such a thing... However, I would like to note that he fell into a 14% tax bracket and I wound up in a 44% tax bracket...

You might want to have a chat with your CPA...

 

[ArmedinAtlanta]

I don't think they should be taxed on the medals-- arguably, they're already conveying value to the country by raising the level of prestige our nation enjoys. They also may serve defense purposes- I know that I would be hesitant to attack the US or US interests after seeing those 6' tall, bulletproof Amazons in the 4x200 free relay last night, pretty intimidating.