Players that took money

#32
#32
John Wick said:
I don't get it. The kids who got paid go and play somewhere else with no repercussions. The coaches who did it get a slap on the wrist and coach in the NFL. Meanwhile, all of the kids and coaches who did it right have to suffer on a team that gets hammered by the NCAA. It's a joke.
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It's absolutely amazing to see someone who thinks the billion dollar business of college athletics is "pristine" from corruption. Name a billion dollar business you think is free from corruption. I'll wait.
 
#33
#33
Vol423 said:
I would be shocked if they did report it to the IRS, but they're required by law to do so.
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They could say it was a "gift". If the "donor" was married and the payments stretched over a couple of years, it could be over $50K without tax consequences.

The question is whether the IRS would deem it a "gift".

The donor can't do anything stupid like trying to write it off as a charitable contribution or business expense like Lori Loughlin.
 
#35
#35
Vollifer1949 said:
If it is proven that recruits took money do they face eligibility issues? Does the IRS investigate these matters?
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Don't think "gifts" are income under the IRS or State regulations. I don't report gifts given to me from my father. Nor did I from my mother or grandparents, there might have to be a gift tax filing depending on the amount. I suspect that the person "giving" and "receiving" these "gifts" will keep there mouths shut and nothing will have to be done. I did bring down Al Capone....
 
#38
#38
RobertPellitt said:
Don't think "gifts" are income under the IRS or State regulations. I don't report gifts given to me from my father. Nor did I from my mother or grandparents, there might have to be a gift tax filing depending on the amount. I suspect that the person "giving" and "receiving" these "gifts" will keep there mouths shut and nothing will have to be done. I did bring down Al Capone....
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I believe (not completely sure) you can only give money to a family member without there being tax consequences.
 
#39
#39
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#40
#40
SayUWantAreVOLution said:
Have you EVER heard of an athlete having issues with the IRS from college payments? No. And you won't. Squeezing people with zero income because they kept 75k isn't profitable to the IRS. Why chase minnows?

The NCAA can strip eligibility but by that time the athlete turns pro OR the NCAA offers the athlete immunity to "come clean" on the school. If you're the NCAA, would you rather punish 5 athletes or gather info on a program that's paying bunches of athletes over the years? Again, nobody chases minnows.
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Reggie Bush Could Be Running From The IRS On Gifts Received At USC
 
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#42
#42
chas said:
the ones that took money should not be able to play ncaa or pro football for at least two years just what i think. probley do the same thing elsewhere
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That's exactly what needs to be addressed. 2nd time permanent ban
 
#45
#45
RockyTopWorld said:
That's crazy! Kids should be getting paid anyway. I say we get a slap on the wrist for this.
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If kids officially got paid, there's a huge ball of worms from the bidding wars. It's not even that simple in the pros...... salary caps, "luxury taxes," "franchise players" and all kinds of attempts to keep huge, wealthy markets from devouring all the talent.

It's bad now in college because the rich get richer on the great recruits but it'd be incredibly lopsided if players officially got paid. It'll be interesting when the "likeness rights" stuff kicks in.

Wanna see Arch Manning with Archie Manning on a box of Wheaties?
 
#47
#47
If they took money, they should not be granted immediate eligibility. Oklahoma gonna be pissed if NCAA makes them sit for taking money. Maybe if real consequences are seen, it would discourage some of these kids from taking it.
 
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#50
#50
maxxx said:
If they took money, they should not be granted immediate eligibility. Oklahoma gonna be pissed if NCAA makes them sit for taking money. Maybe if real consequences are seen, it would discourage some of these kids from taking it.
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The NCAA could offer a bounty to the athletes AND let them retain their eligibility for turning in schools that offer them cash. Neither the NCAA nor the schools nor the players want to participate in fixing this. Why?

Elite athletic talent is worth a LOT of money. Schools know it. Players know it.

You might as well try to stop gravity while you're trying to stop an economic market for athletic talent.
 
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