Look, I want to deduct my payments to Jaydn Ott more than the next guy and in fact I even asked sebastabear how to do so last year and he informed me why I couldn't. And I now agree. It's a clear violation of the tax code. And if I ever get Getty Goldman level ignorant and randomly find 800 million I forgot I made last quarter I'll just pony up or donate to the athletic fund if I really need a write off that badly.
My question is why are collectives like FSU and many others still enjoying tax exempt status despite the irs issuing guidance to the contrary. And not just retroactively approved…currently 501c3s
Is this not a competitive advantage.
I know the NCAA dinged fsu's collective for offering to pay recruits 15k a month even after the guidance but what the serious **** has the irs done about it?
This is absolutely ludicrous the more I research it. They issued the guidance over a year ago and still haven't even entered a public comment period to finalize it as a rule.
Meanwhile these schools are collecting tax exempt donations to apparently offer recruits 15k a month.
Absolutely ludicrous.
I know of a few in the acc like Louisville as well still allowed to operate as a 501c3 despite blatantly and fraudulently violating tax code to create a unfair advantage in labor which is also a violation of the commerce clause so far as I know.
Is someone doing something about this? The more I research it it's absolutely ridiculous. The most they get is a wrist slap from the NCAA while the irs does nothing for 1 year and counting?
Am I wrong on this?
***?
My question is why are collectives like FSU and many others still enjoying tax exempt status despite the irs issuing guidance to the contrary. And not just retroactively approved…currently 501c3s
Is this not a competitive advantage.
I know the NCAA dinged fsu's collective for offering to pay recruits 15k a month even after the guidance but what the serious **** has the irs done about it?
This is absolutely ludicrous the more I research it. They issued the guidance over a year ago and still haven't even entered a public comment period to finalize it as a rule.
Meanwhile these schools are collecting tax exempt donations to apparently offer recruits 15k a month.
Absolutely ludicrous.
I know of a few in the acc like Louisville as well still allowed to operate as a 501c3 despite blatantly and fraudulently violating tax code to create a unfair advantage in labor which is also a violation of the commerce clause so far as I know.
Is someone doing something about this? The more I research it it's absolutely ridiculous. The most they get is a wrist slap from the NCAA while the irs does nothing for 1 year and counting?
Am I wrong on this?
***?