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Priorities: Fan Who Caught Jeter's 3,000th Hit May Owe IRS Thousands

Discussion in 'Political Discussion' started by Real World, Jul 12, 2011.

  1. Real World

    Real World Rookie

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    C'mon now really? This country is so upside down. Arresting home owners who put gardens in their own front yards, raiding 8 man poker home games, and now chasing down some fan who caught a home run ball. It's good to see we have our priorities in order. Hopefully Jeter and the Yankees pick up the guys tab here.


    Fan Who Caught Jeter's 3,000th Hit May Owe IRS Thousands

    Tuesday, Jul 12, 2011

    AP

    The tax man may be on the hunt for the super fan who caught Derek Jeter's 3,000th hit. Christian Lopez, 23, recovered the prized ball his father fumbled after The Captain hammered it into their section of the stands in the third inning of the Yankees' win over Tampa Bay on Saturday.

    The Verizon salesman from Highland Mills, N.Y., gave the ball back to Jeter, whom he called an "icon," and the Yankees lavished a slew of prizes, including luxury box seats for every remaining home game this season and post-season and some signed memorabilia.

    Now the IRS wants a piece. The prizes Lopez received are estimated to be worth more than $32,000 -- and, like game show contestants, Lopez may have to pay taxes on the gifts and prizes because the IRS considers them income.


    Some estimate the IRS will put Lopez on the hook for anywhere between $5,000 and $13,000,



    Fan Who Caught Jeter's 3,000th Hit May Owe IRS | NBC New York
  2. PatsFanInEaglesLand

    PatsFanInEaglesLand Rookie

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    I would agree with you, except he is a Yankees fan, so f*ck him! ;)
  3. wistahpatsfan

    wistahpatsfan Rookie

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    .....ditto....:rocker:
  4. JackBauer

    JackBauer Rookie

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    Meh. How is this any different from the IRS taking a cut of, say, lottery winnings?
  5. PatsWSB47

    PatsWSB47 Rookie

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    LOL, you know what would be a funny late night sketch(s)? Picture a guy watching TV as Jeter hits his 3000th hit(home run) that is caught by the fan. The guy watching it on TV is cheering uncontrollably, jumping up and down and screaming and the audience thinks its all about Jeter's milestone...that is until it's revealed he's just an IRS agent that's thrilled he's going to be cashing in on the 13k in taxes. Another one could be a guy watching and cheering as a 50 million powerball lottery played out on live TV and the audience thinks he's the winner only to find out he is just an IRS agent that's going to be collecting half of it from the actual winner.:D
  6. IcyPatriot

    IcyPatriot ---- JAG ----- PatsFans.com Supporter

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    #87 Jersey

    More money for the trickle up people ... :p

    Nice accomplishment for Jeter ...

    As for Christian Lopez's dad -

    He should be arrested for child abuse - raising his kid to be a Yankee fan is just wrong.
  7. wistahpatsfan

    wistahpatsfan Rookie

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    How bout one that has the kid and his father (who dropped the ball first) at Thanksgiving dinner. Imagine the crap that that guy has to put up with from now on about "dropping the ball".
  8. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    If you won a prize on Oprah Winfrey you had to pay taxes.. if you win money on Jeopardy you have to pay taxes.. that idiot Richard Hatch is doing time again for failing to pay taxes on his winnings from the show Survivor..

    Unfortunately this is the way this world of taxes works, maybe he can figure out how to get mucho deductions prior to next year to offset the hit..

    The article says he may owe.. and it does not say that the IRS is after him, it says they may be after him.
  9. BSR

    BSR Rookie

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    I'm another that doesn't see the injustice. Anytime you receive a benefit like this you are going to pay taxes on it. I'm sure the Yankees will be the ones to 1099 him so that they are sure to get the deduction.
  10. PatriotsReign

    PatriotsReign Rookie

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    I get to attend several Patriots, Red Sox and Celtics games every year for....

    FREE!!!

    Courtesy of the business I'm in.

    And I don't pay a dime of taxes on it! That's why "PatriotsReign"!!

    I know a guy who works in the banking industry who told me last year he played 80 rounds of golf "on the house"! And he wasn't taxed on it either! And that's the way it should be.

    Whenever one of our employees wins a "Prize" from our company, the co. pays the taxes...pretty cool I'd say.

    So why is this young man any different?

    Maybe I should be stupid and add up the value of all the games and send the gov't a check! NOT...
    Last edited: Jul 12, 2011
  11. JackBauer

    JackBauer Rookie

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    I don't know; I'm not a tax attorney.

    Regardless, given the fact that the government is way underwater, I'm having some trouble manifesting any sympathy for a poor guy who got 30k worth of free swag and now has to pay taxes on it. Boo hoo.

    If he doesn't want to pay taxes, he's free to return it.
  12. PatriotsReign

    PatriotsReign Rookie

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    Tell us Jack...if you made $50k a year and got what this kid got, how would/could you pay $13K in taxes? If he can't afford to buy what Jeter and the Yankees gave him, how could he afford to pay the taxes.

    It wasn't like he received any money. Unless you think he should "scalp" some of the tickets to pay the taxes...but then again, he be breaking the law.:rolleyes:
  13. JackBauer

    JackBauer Rookie

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    If I were him, I would have kept the 250-300k baseball instead of trading it for 32k worth of crap and the privilege of paying 5-13k in taxes.

    If he can't afford it personally, he can get help from his family or ask the Yankees to pay the extra tax burden.
  14. PatriotsReign

    PatriotsReign Rookie

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    One fact you omitted is that he did not "trade-in" the baseball for the prizes. He was trying to not be greedy and just "gave" Jeter the ball.

    Again, I attend several games annually at no cost and don't get taxed. So how is this guy any different than the thousands like me?
  15. Real World

    Real World Rookie

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    It's more about the point that the gubmit quickly goes after a fan who gets some tickets to a game, as opposed to focusing on some legitimate tax cheats. Tickets to a game, really? I just hope none of you are taking home any toilet paper from the office stock. :nono:

    As for the tax angle on this, "gifts" are not taxable, whereas "prizes" are. So the question here becomes whether or not Mr Lopez recieved "Gifts" or won "prizes". To me, he recieved "gifts" in this instance. There wasn't any sweepstakes, or some drawing for the ball. He caught it, handed it over for free, and the team said thank you by "gifting" him tickets to every game till the season ends. If not, I would think the kid could claim the ball as either barter, or even as lost income. Maybe a tax pro could answer that. What was the value of the ball he gave up, versus the "prizes" he recieved? If he has to pay on what he recieved, then he should get credited for what he gave in order to recieve "it". Maybe someone can offer up something more concrete here.
  16. JackBauer

    JackBauer Rookie

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    How does that change anything I said?

    If he's really concerned about the money -- and he doesn't seem to be, based on the newspaper reports -- he could have easily kept the ball and made significantly more at auction.

    Lottery winners are forced to pay a portion of their winnings to the IRS. What makes this guy any different?
    Last edited: Jul 12, 2011
  17. Real World

    Real World Rookie

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    BTW, so do Jeter, or the Yankees, have to pay tax on the value of the ball they recieved? If the ball is "worth" $250k, are they obligated to pay taxes on that, or is it a "gift" since the kid gave it to them without requesting anything in return? Hmm....
  18. BSR

    BSR Rookie

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    It doesn't. You both are supposed to be reporting it. Did you really think you were going to get some sort of bill in the mail? Its up to you to report it.
  19. BSR

    BSR Rookie

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    I think you would have a hard time qualifying it as a gift since there was certainly a quid pro quo involving the baseball. You can be taxed on anything from found property to rewards so I can certainly see a strong case that can be made by the IRS regarding taxation of the benefits received. If you want some reading material here is as good a place to start: http://www.irs.gov/pub/irs-pdf/p525.pdf

    Think of it this way. Instead of this being about the innocent good guy sports fan. What if it were an evil (in today's society) CEO who is given access to the Presidential Suite in Maui complete with company jet by his client as a "gift". Should we use PR's standard where he receives sports tickets so every gift is non-taxable or should this CEO include the benefit on his income?
  20. PatriotsReign

    PatriotsReign Rookie

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    Actually, I don't owe anything since the tickets are a gift and gift aren't taxable! The tickets I get certainly aren't "Prizes"
  21. Real World

    Real World Rookie

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    I don't have to think of it that way because it wasn't a Presidential Suite in Maui given to a corporate client. It was, as everyone on the planet can see, a fan catching a homerun ball, and giving back to the player who hit it. For that gesture of good will, the team gave that fan tickets to every game for the rest of the year. The way I see it, the kid isn't trying to profit from this in any way. If he were to turn around and sell the tickets, then sure. If he's simply going to the games, I don't think he should have to pay. Again, my personal view of the situation. There really isn't any gain here for either party. Niether Jeter who is going to put the ball on his trophy shelf, nor the fan who is just going to the games at the Yankees behest. There's no business relationship here, nor any future favors to be had. There's no level of improriety, or conflict of interests. It's like you finding my wallet, and me handing you my sunday tickets to the Pats as a thank you. I don't think you should have to report those tickets to the IRS. Which I don't think you, or anyone else would.
    Last edited: Jul 12, 2011
  22. BSR

    BSR Rookie

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    You said before that they were related to the business you are in. That being the case, they aren't gifts. They are considered fringe benefits and are considered taxable. Look at the IRS publication I linked in my previous email. In any case, I wouldn't go bragging about it to your local IRS agent.
  23. PatriotsReign

    PatriotsReign Rookie

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    Oh no!!!:eek:

    Can you imagine anyone claiming such benefits on their tax forms? Seriously, stuff like this should just be exempt in the business world. We have multiple golf outings as well and although my job sounds like a picnic, most times going to these things just means I have to make up for time lost by working nights and weekends. I also typically refuse Patriots Sunday night games due to how late they typically end.

    So I don't really see any of it as a benefit.
  24. BSR

    BSR Rookie

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    With all due respect, it doesn't matter what you think is or isn't taxable. The instructions are fairly clear. The way you described it above, it is a reward which is taxable income. Could he try to fight it? Sure, maybe he would even win, but that is a risk he would have to take.

    These have been the rules for quite a while. Just because most aren't familiar with them, doesn't make it some grand injustice. And just because its some regular Joe instead of some wealthy CEO doesn't make it worse. I have no problem with some CEO being taxed and I have no problem with this guy being taxed either. Most of the taxpayers in this country couldn't care less about Jeter's 3000th hit.
  25. PatriotsReign

    PatriotsReign Rookie

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    I realize the code is the code and that makes it law.....

    But, that's the problem with our tax code. A CEO should be viewed as a separate category. Anyone above a certain income level should have to pay taxes on things like tickets, trips, personal air travel, etc..

    But middle class people shouldn't have to pay taxes on free tickets to a ballgame or a free round of golf. To me, that's absurd.
    Last edited: Jul 12, 2011
  26. PatsWSB47

    PatsWSB47 Rookie

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    Does your business deduct the ticket costs?
  27. BSR

    BSR Rookie

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    Send the tickets to me and I will happily take the burden from you. ;)

    I wouldn't be too concerned about it if I were you (and I am assuming you aren't).
  28. BSR

    BSR Rookie

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    That makes no sense to me. The law is in place to pick up barter type transactions that would go untaxed under your scenario.
  29. The Brandon Five

    The Brandon Five Rookie

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    Shouldn't they be taxed if and when they sell it? Capital gains are typically a transaction tax when an asset is sold, not acquired.
  30. jcdavey

    jcdavey Rookie

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    the irs is a soul-sucking evil entity

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