News & Analysis as of

Tax Liability Athletes

Bowditch & Dewey

Olympic Medals and Income Tax

Bowditch & Dewey on

The 2024 Paris Olympics are in full swing, and it is never too early for U.S. athletes to consult with their tax advisor. As was done in 2021, the United States Olympic & Paralympic Committee has pledged to award U.S....more

Kaufman & Canoles

K&C Sports & Entertainment Law Weekly Roundup - June 2024 #3

Kaufman & Canoles on

The U.S. Twirling Association and a coach must pay nearly $4.2 million to a baton twirler who was sexually assaulted as a minor during a sponsored international trip, a New York federal jury has found, saying the organization...more

Stinson LLP

Pass Interference: Potential Tax Implications of NIL Collectives in College Sports

Stinson LLP on

Conference realignments. TV deals continuing to soar. Name, image and likeness. If there is one thing that has recently come to define college sports, it is the constant flux and the ebb and flow of change permeating the...more

Miller Nash LLP

An Athlete's Guide to Philanthropy, Nonprofit Organizations, and Community Impact: Process and Pitfalls of Forming Nonprofit...

Miller Nash LLP on

As discussed in prior articles, there are several options for tax-incentivized giving, ranging from the informal and low-involvement to complex and highly involved structures. Many choose to adopt a more formal approach to...more

Bowditch & Dewey

Olympic Medals and the Tax Man

Bowditch & Dewey on

As the Tokyo Olympics come to a close and the athletes return to their home countries, it may be time for U.S. athletes to sit down with their tax advisor. The United States Olympic & Paralympic Committee has pledged to...more

Morgan Lewis

Athletes, Artists, and Audits: IRS Renews Focus on High-Wealth Individuals and Associated Entities

Morgan Lewis on

The IRS has announced its intention to audit wealthy taxpayers and their associated business entities starting in mid-July. This LawFlash alerts sports owners, athletes, entertainers, and others in these industries to the...more

Foster Garvey PC

The Worlds of Sports and Tax Law Intersect During the COVID-19 Pandemic

Foster Garvey PC on

During these trying times, especially with stay-at-home orders still in effect in most states, it is difficult not to over-focus on the uncertainty that lies ahead. Hopefully, we can find healthy distractions to refocus our...more

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