Professional Athletes May Be Left Out in Tax Simplification Efforts

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No matter what Congress tries to do to simplify and reform the tax code, experts agree one group—professional athletes—will be left out because of a complex web of state and local income taxes that can result in thousands of dollars in tax preparation costs. While even athletes and their financial advisers agree there may not be much public sympathy for the tax burdens of individuals who earn millions for playing sports, they question the justification for the system and its impact on the thousands of minor league players, coaches, trainers, and team staff who earn much less.