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IRS throws a chill into collectives paying college athletes while claiming nonprofit status

Por: ABC News Business June 30, 2023

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The rapidly expanding landscape of nonprofit, donor-backed collectives paying college athletes to promote charities has been hit with a potentially seismic disruption.A recent 12-page memo from the Internal Revenue Service determined that, in many cases, such collectives may not qualify as tax-exempt if their main purpose is paying players instead of supporting charitable works.If the collectives aren’t tax-exempt, the donations they collect... + full article



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