Damned if you do, Damned if you dont....IRS says kid owes taxes on Yankees goodies

[laglass69]

I was reading news online where that moron that caught Jeter's 3000th hit ball gave it back. You know i'm for doing good deeds and all but considering the kid said he owed over 100k in student loans but returned a ball worth up to 250k i say he's a damn idiot. The Yankees gave him all kinds of autographed goodies and season tickets but the IRS says he could owe up to 14k in taxes on all that stuff. Bet he wishes he would have kept that ball now.

[beer30]

I was reading news online where that moron that caught Jeter's 3000th hit ball gave it back. You know i'm for doing good deeds and all but considering the kid said he owed over 100k in student loans but returned a ball worth up to 250k i say he's a damn idiot. The Yankees gave him all kinds of autographed goodies and season tickets but the IRS says he could owe up to 14k in taxes on all that stuff. Bet he wishes he would have kept that ball now.

If I was Jeter and heard this, I would just give him the money for the taxes also.:thumbsup::thumbsup: Chuck

[specboatops]

If I was Jeter and heard this, I would just give him the money for the taxes also.:thumbsup::thumbsup: Chuck

Agreed !

[rock]

Same here. Pay off his loan and the taxes and that would be a happy ending for all. Hope it happens but bet it don't.
Rock

[transomstand]

I think any money given to the man can be classified as income, and will be taxable. So it's a Catch 22.

[beer30]

I think any money given to the man can be classified as income, and will be taxable. So it's a Catch 22.

Give it to him on the QT.;) Just give him cash.:D Chuck

[transomstand]

Any cash transaction over $10,000 is required to be reported to the IRS. They thought of that a loooong time ago:D

[laglass69]

It just goes to show nice guys finish last. Instead of being rewarded for doing a good deed, the taxman cometh. Personally because I know how crappy the world has become I would have just kept the damn ball, waited till Jeter gets inducted into the hall of fame then sold it to the highest bidder. At least that way the IRS would have a legit reason to tax me. Not for some damn game tickets and signed caps.

[RB in NM]

The owner of the team should simply offer invatations to him for each game. That way the IRS could not do squat.... or at the least Jeter could step up and pay off the IRS for the guy..... the ball given back to him was free,,,, so it should not be any worries to Jeter for 10-15k,,,,, or else like laglass said,, it coulda cost him 10 times that fee later..
RB

[RED ALERT]

Like Tony Soprano looking for his taste, the IRS is there.

Call it a gift and there should be no tax obligation.

[beer30]

Any cash transaction over $10,000 is required to be reported to the IRS. They thought of that a loooong time ago:D

Give him 7000 a clip in a 2 week period!!!!:thumbsup: There always away a round the IRS, just ask Charlie Rangel!!!!:D:D Chuck

[rock]

There always away a round the IRS, Chuck

I'm pretty sure they know most of the angles by now.
Rock

[Lockjaw]

They recently busted some folks here for trying to "get around" the IRS by coming in under the 10K limit.

The IRS needs to be investigating entities, like Obama's old church, Media Matters, the Rainbow Push coalition, Al Sharpton, and other people claiming to be "ministers'' or "not for profits".

That would would net far more cash then sticking it to this kid.

[stokernick]

If I was Jeter and heard this, I would just give him the money for the taxes also.:thumbsup::thumbsup: Chuck

yah,and pay off his $100K student loan!!

[laglass69]

Miller high life said they will pay any taxes he owes and throw him a beer party. Topps is even making this guy a baseball card.