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Now that college athletes can earn money off their name, image and likeness (NIL) after the NCAA adopted new rules in June 2021, they may find a costly surprise from Uncle Sam.. Money made off of ...
High school athletes, who are minors, may be on the hook for any unpaid taxes from NIL deals once they become adults if their parent or guardian hasn’t paid taxes on that income.
Some high-school athletics associations subsequently adjusted their rules to allow high-school athletes to sign NIL deals while retaining their athletic eligibility. For example, the Oregon School Activities Association approved student NIL deals on October 10, 2022, [ 26 ] leading to a local apparel company signing two Oregon Ducks basketball ...
"The court's grant of a preliminary injunction against the NCAA’s illegal NIL-recruitment ban ensures the rights of student-athletes will be protected for the duration of this case, but the ...
The nine-page memo from the department's Office for Civil Rights said NIL money that goes to athletes should be treated the same as athletic financial aid — i.e., scholarships.
The nine-page memo from the DOE’s Office for Civil Rights said NIL money that goes to athletes should be treated the same as athletic financial aid — i.e., scholarships. It's a position that, if it remains in place after president-elect Donald Trump takes office, could upend plans that many schools are making for next school year.
Athletes’ NIL rights forever changed college sports, and they’re seeping into high school athletics, too. But as the Faizon Brandon case shows, North Carolina has been resistant to change.
Unfortunately, financial education for college athletes has been left to states and individual schools to work out, to the detriment of athletes. “There's still a major gap in NIL education and ...