Larry Brown and SMU Post Season Ban

[MayorBeluga]

Lance Thomas came to light because the authorities were involved - a sudden payoff to the jewelry store ended that. But why won't the authorities/feds/IRS get involved? Thomas' $90k necklace - where did the down payment come from? He had cash, likely a gift. If I got a gift of $35 let alone $35k, somehow some way the IRS would be 'adjusting my taxes'.

No they wouldn't. The IRS doesn't focus on the recipient of the gift, but instead focuses on the donor who is responsible for filing the gift tax return for a gift in excess of $14,000 annually. That means the player is not responsible for reporting the gift. Now, if the amount received was in return for services provided (playing basketball for a particular school) or as a bribe to do something (such as sign with a particular school) then it's different. Let's be clear with language here. The payment to Lance Thomas may have constituted a bribe to keep quiet (law enforcement then should be involved), or it could have been considered compensation for services such as playing at Duke which means it would be taxable to him.

[Goose85]

No they wouldn't. The IRS doesn't focus on the recipient of the gift, but instead focuses on the donor who is responsible for filing the gift tax return for a gift in excess of $14,000 annually. That means the player is not responsible for reporting the gift. Now, if the amount received was in return for services provided (playing basketball for a particular school) or as a bribe to do something (such as sign with a particular school) then it's different. Let's be clear with language here. The payment to Lance Thomas may have constituted a bribe to keep quiet (law enforcement then should be involved), or it could have been considered compensation for services such as playing at Duke which means it would be taxable to him.

So Lance Thomas received upwards of $100K, but what you are saying is he doesn't have to file anything tax wise, it is just the person who gave him the gift that needs to file the gift on his/her taxes?

[MayorBeluga]

So Lance Thomas received upwards of $100K, but what you are saying is he doesn't have to file anything tax wise, it is just the person who gave him the gift that needs to file the gift on his/her taxes?

IWB posed it as a gift. If the transfer truly was a gift, then yes. If however it is a bribe (possible) to perhaps keep quiet, then it's a different issue where law enforcement would be involved.

Chances are the IRS would be better arguing that the payment was compensation, in which case the payer missed out on the deduction but regardless the recipient would be required to include the amount on his 1040 as taxable income.

If the payment was made via check, then it's traceable. If cash, then there are bank reporting requirements.

[IWB]

IWB,

You sound a bit IRRITATED!

The illegal stuff always Irritates me. I know of kids who......
Wanted to transfer out of a school and were told, "Leave and we'll tell everyone where you got that car."
Wanted to stay in school and were told, "You turn pro or I'll tell everyone who paid for your cell the last 4 years."
Wanted to go to a school but was told, "If you don't go over here I will kick your young siblings out of my house."
Wanted to narrow his list down but was told he had a press conference to announce scheduled because dad took $5k.

I know of guys getting payments, parents getting payments, people getting cars, parents getting jobs....

It goes on and on and on, and all everyone says it, "It happens more than you think."

Why won't anyone ever do anything about it? Why does everyone turn the blind eye? Bruce Pearl, that's why. Bruce Pearl while at Iowa turned in Illinois. The coaching fraternity shunned him and he was banished to D2 for years. No one wants that, so no one says a word. That is why I feel it has to come from elsewhere, but where? Who?

Its a freaking joke. Majority comes from street agents or the shoe companies, the rest from boosters, but nothing will ever happen to them, they just keep cashing in.

[Halo]

The illegal stuff always Irritates me. I know of kids who......
Wanted to transfer out of a school and were told, "Leave and we'll tell everyone where you got that car."
Wanted to stay in school and were told, "You turn pro or I'll tell everyone who paid for your cell the last 4 years."
Wanted to go to a school but was told, "If you don't go over here I will kick your young siblings out of my house."
Wanted to narrow his list down but was told he had a press conference to announce scheduled because dad took $5k.

I know of guys getting payments, parents getting payments, people getting cars, parents getting jobs....

It goes on and on and on, and all everyone says it, "It happens more than you think."

Why won't anyone ever do anything about it? Why does everyone turn the blind eye? Bruce Pearl, that's why. Bruce Pearl while at Iowa turned in Illinois. The coaching fraternity shunned him and he was banished to D2 for years. No one wants that, so no one says a word. That is why I feel it has to come from elsewhere, but where? Who?

Its a freaking joke. Majority comes from street agents or the shoe companies, the rest from boosters, but nothing will ever happen to them, they just keep cashing in.

http://buckyville.yuku.com/topic/820...V#.Vg2SP2RViko

onlinebutchbadger
Unread Message #5 [url] [-]
avatar

Posts: 7208
September 30, 2015 7:32 PM
Brat Haze wrote:
Another good article:

http://wisconsin.247sports.com/Bolt/Ryan-I-dont-deal-with-third-parties-39848534
"I don't deal with third parties," Ryan said. "Third parties to me are the parents. I don't get into the other stuff.

"If someone is going to be here, work with us, and make that commitment, we don't need any outside influences trying to determine what we're doing.

"Because we do our thing."



BTW, there is a basketball board ;-)

I love this. And in arguments with my Gold friends during the Buzz era Bo also doesn't

Promise playing time
Want to be your father
Tell you how he is going to get you into the NBA
Tell you you won't have to worry about school


He says one thing: " I will work really hard to make you the best you can be and if you do the same and study...good things can happen"


It's amazing more "parents" don't think the same way.

[TheSultan]

Sultan - a couple of things.....

Ok, I'm sorry, but the fact that your athletics director is named "Bubba Cunningham" should be reasonable cause to investigate the entire department right there.

Next - Yes you are correct that the power 5 have all of the eyeballs and they are controlling athletics. True, but that doesn't mean they should be able to cheat. Why did they go at Penn State so hard? Was it to make the the NCAA the scapegoat? No, it was done because the feds were involved with the investigation at Penn State. Get the feds involved and the Power 5 can't control and bury things.

I can't think of many things I would like less than getting the feds more involved with collegiate sports. There really is no need. If the NCAA is so concerned about the amateur status of its athletes, than the NCAA should police itself. And if the P5 don't care enough to fund the NCAA properly, then they don't care all that much about amateur status.

[IWB]

First off, no - I don't want the Feds involved in collegiate sports, I was just saying that is the only way the cheating will ever be exposed, slowed down or stopped.

The NCAA should police itself? For what?

The P5 don't give a crap about amateur status - they have made that clear.

And a comment on the above post from the Badger Board..... No, Bo doesn't deal with third parties. Not even when they were a finalist for Kevon Looney. Yep. Right.

[Halo]

[QUOTE=Jim Ganzer, "IWB";108644]First off, no - I don't want the Feds involved in collegiate sports, I was just saying that is the only way the cheating will ever be exposed, slowed down or stopped.

The NCAA should police itself? For what?

The P5 don't give a crap about amateur status - they have made that clear.

And a comment on the above post from the Badger Board..... No, Bo doesn't deal with third parties. Not even when they were a finalist for Kevon Looney. Yep. Right.[/QUOTE]

Butch Badger said it and he's a close insider, so I assumed it was true.

[Phantom Warrior]

Here's a question: which organization is more ineffective - the NCAA or the federal government (especially the legislative branch)?

[MUfan12]

Only a UW article would see this as some sort of badge of honor- "In his 15-year tenure with the Badgers, Ryan has only signed one McDonald's All-American and never had a one-and-done player in his system."