IRS memo: Donations made to nonprofit NIL collectives are not tax exempt

By Pete Nakos, On3: Since NIL collectives started populating the college athletics landscape in the summer of 2021, there has been ongoing debate if collectives that have received 501(c)(3) status from the Internal Revenue Service can accept tax-deductible donations.

The IRS appears to have taken a stance.

Read the full story…

IRS memo: Nonprofit NIL collectives are not tax exempt

In a 12-page memo released from the office of the IRS Chief Counsel on Friday, the revenue service believes donations made to nonprofit NIL collectives are not tax exempt.

On3

Looking for more SuperWest team news? Find it at our Team News Feed

Author
Recent Posts

News Feed

The SuperWest Sports News Feed does not link to stories behind a paywall. News is added periodically throughout the day, so check back regularly.