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Tuesday, July 12, 2011

The Potential Tax Perils Of Catching A Historic Baseball

If you're a dreamer who totes a baseball glove to a ballgame and seeks bleacher seats in hopes of catching a home run ball, you may want to consider the tax implications of your whimsy. The man who chased down the home run ball that was Derek Jeter's 3,000th hit — and gave it back to Jeter — may face financial peril because of the windfall of swag the Yankees showered upon him. The IRS may consider the free season tickets and signed merchandise the team gave the man to be taxable income.

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6 comments:

  1. AnonymousJuly 12, 2011 at 11:42 AM

    I say leave the baseballs alone....another man fell last night reaching for a ball at the home run derby. He was blessed that his brother and another man caught his legs and pulled him back to safety. It ain't worth it! :-)

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  2. FlerndipJuly 12, 2011 at 11:53 AM

    Next thing you know the IRS will be taxing concert tickets won on the radio or a twenty dollar winning lottery ticket. Get real. Disband the IRS. Consumption tax is the way to go. The IRS has been getting away with stuff like this for decades. Time to revamp the tax system. They are the biggest crooks in the federal govt.

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  3. lmclainJuly 12, 2011 at 12:05 PM

    Thats modus operandi for thr IRS. Middle class Americans like Bob Dole and Charley Rangel get elected to the Congress and end up multi-millionaires and the IRS never wonders how that happened. Catch a baseball and become a target. If he was just a Senator, there would be no problem at all. Disband the IRS. I would say "line 'em up and shoot them", but that is probably a crime, so I WON'T say THAT.

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  4. AnonymousJuly 12, 2011 at 12:14 PM

    Because this is excatly the kind of publicity the IRS needs in America right now............no wonder why every single American hates them. But he is a Yankee's fan so who cares haha.

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  5. AnonymousJuly 12, 2011 at 2:18 PM

    *cheers lmclain!*

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  6. AnonymousJuly 12, 2011 at 7:35 PM

    "fairtaxdelaware.com" away with the IRS.

    ReplyDelete

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