"American Olympians earn $25,000 for gold medals, $15,000 for silver, and $10,000 for bronze, paid for by the U.S. Olympic Committee. But according to the non-profit advocacy group Americans for Tax Reform, “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.”

The IRS to Michael Phelps: "You Didn't Win That" | Carey Wedler

"You didn't win that" might as well be the U.S. government's official congratulatory platitude to American Olympians who succeed in Rio this summer.

from FB-RSS feed for Tulsa 912 Project https://fee.org/articles/the-irs-to-michael-phelps-you-didn-t-win-that/?utm_source=zapier&utm_medium=facebook