Sounds Like IRS Might Get Serious About Collectives

isucy86

Well-Known Member
Apr 13, 2006
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Just saw that IRS sent a letter to Texas A&M about its 12 Man+ plus collective. A&M had structured their collective to include donor benefits for their NIL Collective. They dared the NCAA to act and Texas legislature created a law prohibiting NCAA from enforcement against Texas schools.

The IRS might just be a bigger dog.

IRS Letter to A&M on NIL Collective
 
Just saw that IRS sent a letter to Texas A&M about its 12 Man+ plus collective. A&M had structured their collective to include donor benefits for their NIL Collective. They dared the NCAA to act and Texas legislature created a law prohibiting NCAA from enforcement against Texas schools.

The IRS might just be a bigger dog.

IRS Letter to A&M on NIL Collective
FYI this is not anything new. This is their reaction to guidance from May. Basically A&M is not “soliciting” donations for NIL but can still use their funds for NIL donations. It’s a very casual way for them to do the same thing without saying what they are doing.

For what it’s worth, We Will just received a letter of affirmation from the IRS confirming our non profit status, so until we hear otherwise, we remain a non profit and thus gifts remains a tax deduction. But always consult your tax advisor :)
 
I wish the 30-40 billion that the IRS collected actually funded our country but to avoid the cave, I am done.
I'm sure every poster has some dissatisfaction with how at least some of the revenue is spent. I'm also sure every poster has benefitted from how at least some of the revenue is spent (including libertarian moderators). Such is government. We can all hope for improvement without discussing specifics here. And, of course, there is a place to discuss specifics if one cares to do so.
 
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In no way should NIL contributions be tax deductible. And Blum and Williams are dead wrong a about what school presidents need to do to get control. I have zero interest in supporting or watching a club team of semi pro athletes with ISU on the jersey. Strongly considering not getting season tickets or supporting in the future because of nil, just waiting to see if some sanity returns. Probably around half the fans agree with me. I am not interested in watching employees, if I wanted that I'd just watch the NFL.
 
In no way should NIL contributions be tax deductible. And Blum and Williams are dead wrong a about what school presidents need to do to get control. I have zero interest in supporting or watching a club team of semi pro athletes with ISU on the jersey. Strongly considering not getting season tickets or supporting in the future because of nil, just waiting to see if some sanity returns. Probably around half the fans agree with me. I am not interested in watching employees, if I wanted that I'd just watch the NFL.
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In no way should NIL contributions be tax deductible. And Blum and Williams are dead wrong a about what school presidents need to do to get control. I have zero interest in supporting or watching a club team of semi pro athletes with ISU on the jersey. Strongly considering not getting season tickets or supporting in the future because of nil, just waiting to see if some sanity returns. Probably around half the fans agree with me. I am not interested in watching employees, if I wanted that I'd just watch the NFL.
Honestly, I kind of agree. If the top of FBS football disassociated itself from universities (i.e., athletes no longer were students with all the obligations that entails), it would be a game changer for me. I didn't go to college for athletics and I'd have about as much passion for watching an ISU-sponsored minor league football team as I have for watching minor league baseball. That is to say: none.
 
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In no way should NIL contributions be tax deductible. And Blum and Williams are dead wrong a about what school presidents need to do to get control. I have zero interest in supporting or watching a club team of semi pro athletes with ISU on the jersey. Strongly considering not getting season tickets or supporting in the future because of nil, just waiting to see if some sanity returns. Probably around half the fans agree with me. I am not interested in watching employees, if I wanted that I'd just watch the NFL.
So you don’t think athletes were getting money under the table?
 
In no way should NIL contributions be tax deductible. And Blum and Williams are dead wrong an about what school presidents need to do to get control. I have zero interest in supporting or watching a club team of semi pro athletes with ISU on the jersey. Strongly considering not getting season tickets or supporting in the future because of nil, just waiting to see if some sanity returns. Probably around half the fans agree with me. I am not interested in watching employees, if I wanted that I'd just watch the NFL.
Whether we like it or not, the genie is not going back in the bottle. Players are going to be paid one way or another, there is just too much money involved. College football ratings are as high as ever in the last two years despite NIL being legal and attendance nationwide hasn’t really fallen off at all. It would serve everyone’s interest to find a middle ground.
 
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