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Portal Watch 2022-23
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<blockquote data-quote="leatherneckjacket" data-source="post: 928595" data-attributes="member: 3849"><p>They better claim the income, as I am sure the person giving the money will be claiming it as an expense and reporting who they gave the money to the IRS.. Further, if the money flows through intermediary company, then that company would have to report to the IRS any payments that were made to any individual in excess of $600 for the year. Either way, each player who received a NIL payment will probably get a 1099-misc from any persons or entities that paid them in excess of $600. Otherwise, those parties are breaking the law.</p></blockquote><p></p>
[QUOTE="leatherneckjacket, post: 928595, member: 3849"] They better claim the income, as I am sure the person giving the money will be claiming it as an expense and reporting who they gave the money to the IRS.. Further, if the money flows through intermediary company, then that company would have to report to the IRS any payments that were made to any individual in excess of $600 for the year. Either way, each player who received a NIL payment will probably get a 1099-misc from any persons or entities that paid them in excess of $600. Otherwise, those parties are breaking the law. [/QUOTE]
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