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No Tax on Olympic Medals Bill Introduced in Congress

Source: Los Angeles Times | Nation | August 3, 2012



Getting into the Olympic spirit, lawmakers have introduced legislation to exempt U.S. medal winners from paying taxes on their "hard-earned medals." Olympians who win medals receive $25,000 for gold, $15,000 for silver and $10,000 for bronze from the U.S. Olympic Committee and must pay taxes on those earnings.
 

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