Though not really a UK tax issue, are the US Olympians ready for the hefty tax bill when they return home…? Prizes for Winning Olympic Medals are Taxable. We didn't know it either, but it's true. American athletes who win medals at the Olympics also get cash awards to go with the medal.
I would like to start by saying how proud I am of all of the athletes who competed in the 20games, and especially grateful for the US . Olympic athletes win medals , they are also supplemented with cash prizes by the U. Prize money won by American Olympic athletes is taxed just like any other income. Olympic medal winners have to pay taxes of up to $90for each gold medal they earn? But some are trying to change that.
Assuming that the notion of desert can make some contribution to tax policy, we then explore the. No one claimed she should give the medal back.
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