America’s Olympic athletes will no longer pay a so-called victory tax under a bill passed by Congress and which the President has signed into law.
The IRS will now be prohibited from taxing most medals or other prizes awarded to U.S. Olympians.
The U.S. Olympic Committee awards cash prizes to medalists, ranging from $25,000 for gold to $10,000 for bronze. The money has been considered earned income, thus making it subject to what some lawmakers have called the “victory tax.”
Starve the leviathan government every way possible.