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Let the battle begin......

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MotoSniper said:
Nice...
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My mom is a federal auditor with Finra and my brother works for the IRS in their Tax Crime division. I've spoken with him about all this money going on in Football recruiting and he said something of the sort of pay attention to the news in the next couple of months. He also said he would be shocked if the NCAA is still around in 10 years. He wouldn't give me the specifics but the term "Racketeering" has been thrown around.
 
MotoSniper said:
My response is not meant to slight you in any way, it's just a general observation on the matter.

it's not like we are talking about organized crime and putting hits on people...who gives a *** in the vast populations of the world if some snot nose kid and his fam get $60k to play a game. I surely couldn't give a flying *** and it doesn't impact my cashflow one bit.

Bottom line, not many people of the billions on this planet give a chit...that's why nothing is done about it...and the fact that the state of Alabama are subject matter experts on the matter...
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This may not be the kind of thing that bothers you, but I suspect it's the kind of thing that bothers the government. Is it possible to make millions of dollars a year basically disappear without breaking any laws? Maybe, but I'm skeptical. Even if the boosters are using money they've paid taxes on, the kids and their families most certainly aren't claiming that money as income.

In these transactions Uncle Sam isn't getting paid, and Uncle Sam gotta get paid son.

And congress investigates stupid sht like PEDs in MLB, so I don't see why money laundering in college sports wouldn't be of interest.
 
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Drewny1 said:
My mom is a federal auditor with Finra and my brother works for the IRS in their Tax Crime division. I've spoken with him about all this money going on in Football recruiting and he said something of the sort of pay attention to the news in the next couple of months. He also said he would be shocked if the NCAA is still around in 10 years. He wouldn't give me the specifics but the term "Racketeering" has been thrown around.
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Always thought it was close but it will be big when the hammer comes down
 
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MotoSniper said:
Well, they need to swing for the fences if they are going to assault this target...and that means none other than Bama. If the Feds are able to bring down the Bama /Saban Hegemony, that would send a monster signal to all of CFB.
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Pretty much everything that they done would be erased......would be the biggest scandal ever but i dont think they will be the only school if the gov is involved.
 
Rellyrell said:
Welp; The Bag Game theory is alive and well!
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When fans talk about how much their own team pays for players it becomes difficult to believe it's just a theory.

Put it this way: There's too much to be gained by winning for people to leave any stone unturned. If paying players will get wins, then somebody will pay players. And if somebody pays players, others will need to do the same. There's just no conceivable way this isn't going on.
 
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MotoSniper said:
You care about tax fraud & tax evasion?!? Do you have esquire after your name? Most people commit a form of "tax fraud and/or evasion" each year when it comes to filing taxes...you know, claim an extra several thousand in donations, "work expenses" etc. I am not saying it's correct or moral, but it's definitely not illegal. If I have a thousand bucks per se, and I want to give it to somebody else to encourage them to come out and participate in my pick-up basketball game, there is no crime there. Same thing can be said by these boosters giving money to kids to pick a certain school. It's against the NCAA, which lacks any type of punitive legal authority, in essence making them toothless.
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Sir, not to slight your intelligence at all, but it IS illegal! In fact, it is a federal felony. People who actually believe this are just trying to justify stealing from the rest of us. And you know what? The majority of people who think that way actually vote for the party that increases taxes.
 
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MotoSniper said:
You care about tax fraud & tax evasion?!? Do you have esquire after your name? Most people commit a form of "tax fraud and/or evasion" each year when it comes to filing taxes...you know, claim an extra several thousand in donations, "work expenses" etc. I am not saying it's correct or moral, but it's definitely not illegal. If I have a thousand bucks per se, and I want to give it to somebody else to encourage them to come out and participate in my pick-up basketball game, there is no crime there. Same thing can be said by these boosters giving money to kids to pick a certain school. It's against the NCAA, which lacks any type of punitive legal authority, in essence making them toothless.
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if it's income, it has to be reported to the IRS. If it's substantial underreporting, it could be a crime.
 
MotoSniper said:
Not true my friend, unless it's over $5,000 typically...

related question: are you a CPA???
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The question is deductibility which I doubt any of them do. The next issue is gift tax. Yo can give 14,000 to as many people as you want without paying any gift tax so you take the kid ,his mom and dad, brothers and sisters, throw in a couple of uncles and you can give a lot of money. Furthermore if the donor is married you can join with her and give twice as much.
 
Drewny1 said:
My mom is a federal auditor with Finra and my brother works for the IRS in their Tax Crime division. I've spoken with him about all this money going on in Football recruiting and he said something of the sort of pay attention to the news in the next couple of months. He also said he would be shocked if the NCAA is still around in 10 years. He wouldn't give me the specifics but the term "Racketeering" has been thrown around.
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RICO. I love RICO. Plan to file a civil RICO one of these days.
Sam Jankovich raised the tax issue in the 80's, no one listened.
 
TpaBayFlyFisher said:
Sir, not to slight your intelligence at all, but it IS illegal! In fact, it is a federal felony. People who actually believe this are just trying to justify stealing from the rest of us. And you know what? The majority of people who think that way actually vote for the party that increases taxes.
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I am not advocating that it's right, just stating that a large amount of people do it each year.
 
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