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
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
On October 7, 2016, President Obama signed into law the United States Appreciation for Olympians and Paralympians Act (the “Act”), H.R. 5946. The Act amends Internal Revenue Code § 74, which governs the taxation of prizes and...more