Numlock News: July 27, 2021 • Lemonade, Weat…

By Walt Hickey Bonus When an American athlete wins a medal at the Olympics, they also get a tax-free bonus from Team USA provided they’re not already pulling in millions, thanks to an act passed in 2016. Gold medals come with a $37,500 bump, silver’s worth $22,500 and a bronze is worth $15,000. The bill making that bonus tax-free passed nearly unanimously with all but one vote, and provided their overall adjusted gross income is below $1 million they’re free and clear, at least federally. So the NBA players, a couple of the more famous swimmers and gymnasts, and presumably all of the sailors and equestrians will probably have to pay up. You can rest easy knowing some weekend warrior discus dude isn’t about to get wrecked by the IRS for a solid showing.

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