I got thinking about this and have yet to see anything in print about it. When these athletes are getting these NIL benefits, are they being advised by the compliance dept at their respective schools about the tax implications on things that I am sure appear to be "freebies" to the athletes. I will make a bold prodiction that at some point in the next two years we will see the IRS pounce on a high profile NCAA athlete for tax evasion and then all hell will break loose as these kids will be hard pressed to financially pay an accountantto advise them properly and they sure as hell wont set money aside to pay taxes on items like the Porsche SUV the freshman hoop player at Kentucky just received.
1099 Tax forms for NIL benefits
- Thread starter spartangeo
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