The Hidden Cost of Glory: Taxation on Olympic Medals
October 29, 2024By Jose Linares
Victory can be taxing. After the July 2024 Olympic games in Paris, there have been questions as to whether Olympic medalists can receive tax exemptions on their winnings. Certain amendments to the Internal Revenue Code (“I.R.C.”) have allowed exemptions for prize winning-athletes who earn under a certain yearly income.[i] This exemption will also apply to […]
