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| "I owe how much?" |
Athletes across the country grow up dreaming of one day bringing home an Olympic medal. Unfortunately for those who do, Olympic glory comes with a price: a bill from Uncle Sam.
Any of our athletes who win a medal will also receive a cash prize from the U.S. Olympic Organizing Committee, and some sports have additional prizes, and the IRS expects to get their cut. Even the medals themselves could incur a tax bill.
Americans for Tax Reform calculated what the taxes would be for Olympic medal winners:
