The IRS Takes Gold in Rio

America’s Olympic Medalists in Rio will return to an unpleasant reality: a tax bill. Each medalist will be taxed on their award from the U.S. Olympic Committee and the monetary value of the medal itself. The U.S. Olympic Committee awards cash prizes to medal winners in the following amounts: $25,000 for gold, $15,000 for silver, and $10,000 for bronze. According the IRS, all cash prizes and awards are taxed as income earned abroad. The awards are treated the same as a lottery payout or casino…
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Middleweight Champion’s Unraveling “Taylor” Made for an Evaluation of Boxing’s Legal Vagaries

This past week, 2000 U.S. Olympic bronze medalist and two-time middleweight champion Jermain (Bad Intentions) Taylor, who was once expected to usher in a new era in the middleweight division following back-to-back decision wins over long-reigning champion Bernard (The Executioner) Hopkins, was arrested for the second time in six months on gun-related charges.  In late August 2014, Taylor was arrested in connection with shooting his cousin and subsequently indicted on related felony charges.  His second arrest came at a Martin Luther King, Jr. Day parade…
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London 2012 Olympics will Feature Most Sophisticated Anti-Doping Testing in History

Olympic competitors who plan to run the risk of taking performance-enhancing substances before or during the London Summer Olympics are facing “the most sophisticated anti-doping operation in the history of the Games.”  A private sponsor will be aiding in the drug testing this year—a first in Olympics history—by providing facilities for scientists to conduct the testing. More than 6,250 samples of blood and urine will be tested (as compared to 4,500 samples tested inBeijing), with approximately 150 scientists running tests around the clock. The list…
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Olympic Competitors Facing Hi-Tech Drug Tests and Sedative Bans

Olympic competitors who plan to run the risk of taking performance-enhancing substances before or during the London Summer Olympics are facing “the most sophisticated anti-doping operation in the history of the Games.” A private sponsor will be aiding in the drug testing this year—a first in Olympics history—by providing facilities for scientists to conduct the testing. More than 6,250 samples of blood and urine will be tested (as compared to 4,500 samples tested inBeijing), with approximately 150 scientists running tests around the clock. The list…
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