OT Reggie Bush vs the IRS
I just heard on a podcast of Michigan Insider on WTKA that the IRS might be going after Bush for unpaid taxes on the "gifts" he received while at USC. This just keeps getting better.
http://www.wtka.com/index.php?fuseaction=home.podcasts_sel&id=5890
Can they take Kim Kardashian away from him too? That would be sweet.
they're not dating anymore...duh! she's now with austin miles of the cowboys. geez get with it
/sarcasm
Man, hell of year for Mr. Miles. Goes from relative anonymity to stealing Kim Kardashian, Reggie Bush's girlfriend, in one calender year...
I think you mean Miles Austin...
this is very relative anonymity we are talking, i guess
Dangit, Well that's good news I suppose. That just changed my entire day. When did this happen?! When are we going to land on the moon?!
I don't want to be in any competition where the prize is Ray J's sloppy seconds.
Don't act like "Sexy Can I" wasn't your go-to song for pulling hoodrats back in '08...
You got me.
More importantly, nothing says classy like introducing your new girlfriend to your family at thanksgiving with "she's the one with the sex tape that isn't Paris Hilton."
"Someone tell Grandpa to get off the internet, it's time for dessert."
Kardashian: Bush Gone Forever
Kardashian/Bush Split
Miles of Cowboys for Kardashian
"The IRS is just jealous of Reggie Bush."
just wishes they were Trojans.
My guess is that the parents would be on the hook for an even larger amount of back-taxes for the "rent-free" house which they were living in. Then again, I doubt they have the kind of expendable (and therefore readily seizable) cash and assets that make Reggie such a tantalizing Defendant for the IRS.
Doesn't the donor usually pay the gift tax, not the donee?
The IRS will probably try to argue that the rent free house was a gift to Reggie, who in turn gifted it to his parents. Then they could try to collect taxes on both the gifts. Hooray for the IRS.
The so-called sports agent wannabes in this case would probably say it wasn't a gift though so the family/Reggie would have to include it in gross income.
is that it will be a real legal proceeding. The NCAA had no power to compel Reggie to appear or ability to penalize him. Of course, the flip side is that the burden of proof is probably much higher to get a conviction.
Wonder if the NCAA would go further on USC if any further dirty laundry were to come out in an IRS investigation?
Unlike the NCAA, the IRS has subpeona power. They can force USC, Reggie Bush and anyone else to turn over documents and give testimony under oath. If I were Reggie Bush, I would be very nice to the IRS and simply ask how much I should write the check for.