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View Full Version : IRS (aka KGB) at its finest. Fan who caught B Bonds' record 756 ball owes tax on it



RP08
08-10-2007, 07:29 PM
Unbelievable. The kid who caught Barry Bonds' record home run ball owes the IRS $210,000 for the ball's "reasonable estimate of value".

So, if he sells the ball, he owes $210k
If he keeps the ball, he owes $210k
If he walks up to Barry Bonds and says "I don't want it, you can have it back.", he owes $210k
If it increases in value, he owes $210k plus tax on any increase of value.

Local talk radio here was talking about it. Craziness indeed.

What in the world is going on with our tax laws? Yikes!

Source:
http://www.kentucky.com/sports/story/146308.html
Chester Copperpot
08-10-2007, 07:31 PM
Unbelievable. The kid who caught Barry Bonds' record home run ball owes the IRS $210,000 for the ball's "reasonable estimate of value".

So, if he sells the ball, he owes $210k
If he keeps the ball, he owes $210k
If he walks up to Barry Bonds and says "I don't want it, you can have it back.", he owes $210k
If it increases in value, he owes $210k plus tax on any increase of value.

Local talk radio here was talking about it. Craziness indeed.

What in the world is going on with our tax laws? Yikes!

Source:
http://www.kentucky.com/sports/story/146308.html



That kid should say instead that he will vote for ron paul and sell the ball after Ron shuts down the IRS
McDermit
08-10-2007, 08:24 PM
That's assanine.
angelatc
08-10-2007, 08:26 PM
I'd learn about international banking on my wau t my new offshore house.
CurtisLow
08-10-2007, 08:38 PM
crazy! Off the IRS!
RP08
08-10-2007, 09:07 PM
crazy! Off the IRS!


Amen!

More Americans fear being being audited by the IRS to being mugged.

"What's going on around here?!" - Dr. Ron Paul
Richie
08-10-2007, 09:41 PM
Somebody should find a way to inform this guy about Ron Paul. :cool:
RP08
08-10-2007, 09:47 PM
Somebody should find a way to inform this guy about Ron Paul. :cool:


No doubt! The story is getting a lot of press and talk radio coverage!

Anyone have the connections?
ChooseLiberty
08-10-2007, 11:41 PM
That is just insane.

Sounds like they would treat it like a game show prize. If you win a car on a game show you have to pay taxes on it whether you keep it or not. Some of those people that win large prizes have to sell them or take a cash prize instead because they can't pay the tax bill to keep them.

Bizarro.
Mesogen
08-10-2007, 11:59 PM
That's like when Oprah gave her whole audience cars.

"You get a tax!

And you get a tax! and YOU get a tax!

and you get a TAX!!"

Woooohoooo thanks, Oprah!!!