Several NCAA asst basketball coaches arrested

#151
#151
onevol74 said:
If a recruit took money as part of an agreement and did not pay taxes on it then it is tax evasion. Do you think that is legal too? And by the way, you can substitute the terms, (Dodge Charger, or stylish suits) as money in the previous sentence.
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Why not pay the taxes? Especially if it's on a car. You can't register it without paying the tax.
 
#152
#152
05_never_again said:
Could be dozens, and that's just the Adidas schools. Perhaps Nike and Under Armour are better at covering up their schemes.

The dominoes that could fall because of this are staggering. It wouldn't shock me to see Auburn go ahead and fire Pearl, which could also lead to them letting go of Jay Jacobs. With a new AD, that could even negatively affect Malzahn's job security. Crazy.
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Crossing my fingers whatever cheating we've done has been covered well lol.
 
#155
#155
bamawriter said:
You don't honestly think we're giving cars in exhange for service, right? There is no way we're that bad at paperwork.
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Probably loaners. No paperwork... just toss them the keys and pray they don't run over or into somebody. But the government can easily show it's compensation even if a vehicle isn't registered. Nine-tenths of the law.
 
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#158
#158
Thunder Good-Oil said:
Are you sure they haven't? "Tip of the iceberg". Bama is good at cheating. There are easier targets. This is just the beginning.
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I was kidding. The cars aren't loaners. I promise you that, except in the rare instance when someone gets sloppy like with Terrell Pryor, the paperwork is in order every time a player gets a car.
 
#159
#159
bamawriter said:
I was kidding. The cars aren't loaners. I promise you that, except in the rare instance when someone gets sloppy like with Terrell Pryor, the paperwork is in order every time a player gets a car.
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The FBI doesn't care about athletes driving fancy cars. They're interested in the bribes between agents, coaches, and shoe companies. Cars are mice nuts.
 
#161
#161
bamawriter said:
Then what was the point of your last several posts?
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You were asking me questions after I explained to you that there's a difference between sales and income taxes.

The IRS cares about all things related to compensation... but this is an FBI deal right now.
 
#162
#162
Thunder Good-Oil said:
You were asking me questions after I explained to you that there's a difference between sales and income taxes.

The IRS cares about all things related to compensation... but this is an FBI deal right now.
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Well then, I appreciate you reaffirming the info from several of my own posts throughout this thread.
 
#167
#167
Hopefully it is isolated to a few schools but if it gets too widespread - there may not be enough teams to field the tourney.
 
#168
#168
Thunder Good-Oil said:
You pay sales tax when the vehicle is registered. You owe income tax when you're given cash or merchandise in exchange for services.
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I would think that would be more of a "gift" instead of exchange for services. As in here's a car or few grand for you since you're a struggling basketball/football player. If the gift is valued over a certain amount (I think 12.5k - it used to be 10k) then the person giving the gift is supposed to pay taxes on it, not the person receiving the gift.
 
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#169
#169
You know when Vitale speaks his mind about the corruption and calls out Duke for reclassifying kids, then you know things have turned for the worse. NC State is on the clock for the Dennis Smith recruitment. Just a matter of time that they start snooping around UNC and Duke's campus.

Shots fired.

http://www.espn.com/video/clip?id=20836549
 
#170
#170
I'm not an attorney but the financial advisory industry is heavily regulated and I suspect (would be shocked if not true) that numerous laws are violated if someone gives you money in exchange for requiring you to use a specific advisor. Not including tax evasion, etc.

This will involve every apparel company before it's over. Adidas, Nike and UnderArmor schools are already mentioned.
 
#171
#171
Nike Youth basketball division got subpoenaed this morning. This is going to be astronomical.
 
#172
#172
jhamilton1208 said:
I would think that would be more of a "gift" instead of exchange for services. As in here's a car or few grand for you since you're a struggling basketball/football player. If the gift is valued over a certain amount (I think 12.5k - it used to be 10k) then the person giving the gift is supposed to pay taxes on it, not the person receiving the gift.
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I am sure that the NCAA would politely accept the paper work from either the giver or the user.
 
#175
#175
"No one swings a bigger [expletive] than [Coach-2] at [Adidas]" and added "all [Coach-2] has to do is pick up the phone and call somebody [and say], 'These are my guys; they're taking care of us.'"
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Coach 2 has been revealed to be Pitino.
 
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