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...

After two months and approximately $2.5 billion, the buzz of NBA free agency died down as the 2021-22 season got underway.[2] While there...