Tax implications far from nil for college athletes' NIL money

The University of Alabama soon might have some new competitors in the SEC.  ( Pixabay via Pexels ) Sure, the COVID-delayed 2020 Summer Olympics are finally underway, but here in Texas we're fixating on, what else, football. The Dallas Cowboys will kick off the NFL's 2021 preseason in a couple of weeks, but it's college football that is dominating the conversation right now. It looks like the Big 12, which only has 10 colleges in the conference, is about to lose two more. Oklahoma (OU) and...
Tags: School, Texas, Taxes, Supreme Court, NFL, United States, Dallas Cowboys, Ncaa, SEC, Espn, Usa Today, Esports, Alston, University Of Alabama, U S Supreme Court, UT

California Lawmakers Miss Opportunity to Help Low-income Parents

Despite better ideas on how to truly help low-income parents of infants, California lawmakers took a route this July that spends a lot of money but doesn't sufficiently help the group in need of assistance. Why does this happen? There is plenty of data and a 2019 report from the Legislative Analysts Office pointing out that their law change won't provide as much help as it could have if better designed. I'm talking about what started out in 2019 (SB 92, Chapter 34 (6/27/19)) as a two-year exe...
Tags: AB 150, AB 85, Broke in America, Diapers, Exemptions, Nellen, SB 92, Tax Oddities, Tax Policy, Professor Nellen

IRS reports progress in tax return backlog

Just about a month ago, the Internal Revenue Service reportedly had a backlog of more than 35 million individual and business returns that required manual processing. That was up from 29 million back in April. Last week, however, the IRS said it's essentially caught up with early season individual filings. Hey, don't shoot the messenger. That's the official word from the IRS, via its special IRS Operations During COVID-19: Mission-critical functions continue webpage. In a July 23 update to a po...
Tags: Coronavirus COVID-19, Filing, IRS, Refund, Tax numbers, Taxes, Backlog, Coronavirus, COVID-19, Delays, Processing, Refunds, Returns, Tax, Tax Filing, Skbell1

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