For all those wanna be tax accountants who love the details (and those who like snooping on famous people) here’s a dose:
by Terri Eyden on Dec 3 2013As professional athletes’ salaries continue to escalate, several revenue-strapped states seem to be looking to the athletes for a solution. Tax authorities are tightening enforcement of their existing personal income tax laws, and that has left some pro athletes feeling like they’re in the crosshairs of overzealous auditors. That’s why two NFL players are crying foul . . . and taking one major city to court.Here’s what happenedFormer Indianapolis Colts center Jeff Saturday and former Chicago Bears linebacker Hunter Hillenmeyer have each filed a separate lawsuit against the city of Cleveland, Ohio, accusing tax authorities of applying an unfair method of taxation to their incomes.This method, they say, results in tax liabilities that are considerably higher than the more common method of calculating what is known as the “jock tax.” In response, Cleveland representatives say the method the city uses is “certainly reasonable.” Changing to the more standard method would cost the city about $1 million per year in tax revenue.
Cleveland needs the money because the admission, sales and liquor taxes weren’t enough from the game?
Read all about it here.