Domino
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no IRS or taxing official has said he has. |
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ianrothman
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Not true. Pure myth. The guy will only be taxed on what earns when he sells the ball, not before he sells it. |
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Jimfix
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Read it again. He said he had talked to friends and they said he could. He did not mention if they were CPA's or tax attorneys, just friends. Sounds a lot like some do on here.
Jeff A. Read it again, he never mentioned an attorney or tax accountant. He has no bank account, I doubt he has either of the aforementioned. |
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budlightdonkey
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welcome to america were the non working can eat steak and the working eat pork |
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Gem
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I'm really curious about this too.
Just because you own something valuable does not mean it is automatically taxed. Unless the state he lives in has personal property taxes (I know Indiana does), I don't see how it has a true value without it being sold. Once he sells it, he will end up having to pay the IRS and the state tax department on it's sale price.
Hopefully you will get a CPA who can answer this! |
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semi_omniscient
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why not give it to Bonds? love him or hate him, it would be a good gesture. |
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orcastrated
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he gets taxed beacuse its another source of income, and its potential value is alot!!! its the dumbest thing ive heard, yet another reason our country is laughed at by others! |
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Flower Girl
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Isn't that the most ridiculous thing you have ever heard? It is considered to be possible income, so they think they can tax it, even if he doesn't sell. |
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Jeff A
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This guy is selling the ball on the advice of his attorney/accountant. Poor bastard.
While there is no law stating that "found" items are taxable, the folks at the IRS will call it "income" anyway. Present tax code requires that YOU prove it's not income, and that can be a costly and very time consuming task.
You know most folks would rather get drilled at the dentisit with no anethestic than get audited by the IRS. Crazy. Just the threat of the IRS crawling up yer **** with a microscope makes most people wince.
Can the IRS "legally" tax this man's baseball, no, but they can make his life hell and the fight more expensive than the tax due. There is still no law on the books that requires payment of income tax at all, but the IRS still collects and wastes insane somes of money annually to ensure the public pays anyway. |
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jeff b
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The tax code taxes "income from all source world wide" the only income not taxed is those specifically excluded by the tax code, for instance gifts. So if you find a hundred dollars on a sidewalk technically you're suppose to claim it on your tax return. As soon as he came in possession of the ball his net worth increased by the value of the ball. Thus he had income that is not specifically excluded from taxation. |
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bill w GO FLAMES GO ã€ãƒ„】
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it's like winning a lottery. that guy gained something that is of great value due to its historic nature. |
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