When the NCAA formally allowed college athletes to profit from their Name, Image, and Likeness (“NIL”), it reshaped the landscape of amateur athletics — legally, competitively, and now, fiscally. While many players and fans view NIL as a long-overdue recognition of athletes’ market value, the IRS sees something else: taxable income...

It is no secret that some parents are much more involved in their children’s athletics than others. It is a concept that has merited...