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Lawmaker: Olympic tax bill popular but 'bad policy'

U.S. Olympic medal winners will soon get a tax break, but not everyone thinks getting rid of the so-called victory tax is a good idea. "I promise you, this is … Click to Continue »
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Olympic Medals And Prize Money Remain Taxable - For Now

Business & Finance : Forbes: Business

As US athletes continue to rack up gold at the Olympics, they're also racking up a tax bill. There's a proposal in Congress to exempt Olympic winnings, including medals, from tax - but is it a good idea?

Coburn Comes Out Against Tax Exemption for Olympic Medalists

US Politics / Liberal : Firedoglake

Following up on an earlier item, the good news is that we've found one lawmaker in Washington who thinks that exempting Olympians from paying taxes on a cash award is a bad idea. The striking news is that this lawmaker is Tom Coburn...

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Politics / US Politics : Washington Watch

It's doubtful that, say, Michael Phelps needs a tax break, but Sen. Marco Rubio, R-Fla., announced Wednesday he was introducing the Olympic Tax Elimination Act, which would exempt U.S. Olympic medal winners from paying taxes on thei...

Tax Break for Olympic Medal Winners Nears Finish Line

Politics / US Politics : Washington Wire

A tax break for Olympic winners sailed through the U.S. Senate. The legislation, reviled by tax experts but given a perfect 10 by politicians, creates a new exemption for medal winners.

House Eliminates Tax on Olympic Medals

US Politics / Liberal : Drudge Retort Weblog

U.S. Olympic winners usually come home with a shiny medal and cash prizes, but they also find a hefty tax bill awaiting their return. But the Olympic "victory tax" may soon be eliminated. Congress passed a bill on Thursday that woul...

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