1) At what point to put your first baseman in as a pitcher?
2) As far as the big bad IRS go, them placing a tax on a ball caught was a scare tactic for him to sell it. The IRS can only tax "earned" income, or gifts. And it could be disputed that the guy didn't "earn" anything, nor was the ball "given" to him. But, if the guy sells the ball than that income is definitely taxable. Oooooh those tricky IRS!
3) Totally awesome! Go Bus!
4) Why do I love the chicago beer society? Ribs and hand crafted beer on the 25th!
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3 comments:
In re goal 2: What about "winnings," like slot machine winnings? That isn't really earning or gifts is it? Still have to pay tax on it though. I guess it comes down to defining what the process is when a fan comes into possession of an item that originated as the property of MLB, in a MLB facility.
In other words, do all baseball's hit into the stands count as "given" when the fan in the stands is allowed to keep them? In basketball and football, balls that end up in the stands are returned to officials.
Exactly. Its just too vague. If he fought that in court he'd win, he'd keep the ball, and wouldn't have to pay taxes on it, until such a time that he sold it.
There wasn't any hoopla about this in 1998 when McGuire hit #62.
The problem is that people are scared of the IRS because of the damage that they will (not can but will) do to someone they decide to go after. Its basic extortion tactics that they adopted from the mafia in the 1930's.
As far as gambling winnings IRS wants you to claim all of it. If you look under pub 17 (page 43 you'll find it. But you won't find anything about catching a baseball, or jersey etc.)
However I've read that only games that maintain certain odds are taxable, but I don't know if that's true.
There isn't really any "hoopla" about it now. I was just listening to Stern the other morning and they played the clip of him saying he didn't have the resources to keep it. Stern didn't understand what resources it took to keep a baseball, and a few minutes later Baba Bouey informed him of the IRS issue.
Even if he could fight it, the cost of insuring it probably isn't cheap either.
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