Give A Guy his 3,000th Hit Back, Get Hit with $14,000 In Taxes
July 12th, 2011
It all started out as a selfless act by a longtime baseball fan for his favorite player. Christian Lopez is the fan that caught Derek Jeter’s 3,000th hit on Saturday, a home run into shallow left field. Rather than keep the ball for himself, he gave the ball to the Yankees front office and asked for nothing in return, only that the ball go to Mr. Jeter. As a thanks, the club gave him four luxury box tickets to every home game for the rest of the year and signed memorabilia. Now the IRS wants a little gift for themselves…a $14,000 one to be exact.
According to CNN, the gifts Mr. Lopez received for returning the baseball are estimated to be worth $120,000, which would make them taxable by the IRS as income, according to several accountants. Mr. Lopez said that he doesn’t mind having to pay the taxes, but wants the IRS to “help him out a little”. After all, he didn’t trade his ball for the gifts, he just wanted to give a ball to a player that he felt deserved to have it more than him.
He might not have to pay the taxes if he can get them considered as gifts, according to Columbia University law professor Michael J. Graetz, rather than a taxable swap. However, knowing the IRS, any gift whatsoever should be taxed, especially if there is the potential for money to be had from a guy who was just trying to do a good deed.
This is what a big government looks like, America: piranhas who will take a moment like this and try to claim the loot for themselves by any means necessary.
