Obviously, large amounts of money would constitute tax evasion and potential wire fraud....but....people gift others money all the time.
Say, for example, I wanted to send an athlete $1000 via paypal family and friends just because I'm a fan of their game....could I be arrested for this? (Don't worry, I'm aware of the NCAA implications, but thankfully they are not the law)
Per the IRS...."The IRS allows every taxpayer a gift up to $15,000 to an individual recipient in one year. There is no limit to the number of recipients you can give a gift to. There is also a lifetime exemption of $11.58 million."
What is there to stop someone from going on Twitter and private messaging an athlete and offering them $1000, with a message like "Hey, big fan of your athletic ability and can't wait to see you play in college. I believe you would be a great fit at *insert school here* because they need a point guard badly and your style fits their system well! Good luck on your decision!"
Any local, state, or federal laws that would be broken here? I'm not aware of any. Just curious if anyone else is.
Say, for example, I wanted to send an athlete $1000 via paypal family and friends just because I'm a fan of their game....could I be arrested for this? (Don't worry, I'm aware of the NCAA implications, but thankfully they are not the law)
Per the IRS...."The IRS allows every taxpayer a gift up to $15,000 to an individual recipient in one year. There is no limit to the number of recipients you can give a gift to. There is also a lifetime exemption of $11.58 million."
What is there to stop someone from going on Twitter and private messaging an athlete and offering them $1000, with a message like "Hey, big fan of your athletic ability and can't wait to see you play in college. I believe you would be a great fit at *insert school here* because they need a point guard badly and your style fits their system well! Good luck on your decision!"
Any local, state, or federal laws that would be broken here? I'm not aware of any. Just curious if anyone else is.