osted by Anup Baral | August 20, 2016 : Team USA Olympians such as Simone Biles and Michael Phelps get bonuses for each medal they win, and the IRS counts that as taxable income. But some lawmakers are hoping to change that. Photo: AP. Olympic medal winners like Missy Franklin, Michael Phelps and Gabby Douglas from Team USA will have to pay taxes on their gold, silver and bronze, and the cash bonuses that come with them. But Senator Marco Rubio has introduced a bill to make things easier on athletes. Len Berman has the story.
Olympic medal winners like Missy Franklin, Michael Phelps and Gabby Douglas from Team USA will have to pay taxes on their gold, silver and bronze, and the cash bonuses that come with them. But Senator Marco Rubio has introduced a bill to make things easier on athletes. Len Berman has the story.
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