Yes they have to pay taxes on the winnings
yes, on every medal they win they have to pay taxes on it.
Yes, the US Olympic Committee gives cash awards of $25,000, $15,000, and $10,000 to winners of gold, silver, and bronze medals, respectively. Athletes, as of now, still have to pay taxes on their winnings.
The Olympic Committee awards its athletes, $25,000 for gold, $15,000 for silver and $10,000 for bronze. The athletes still have to pay taxes on whatever money they win.
The taxes on prizes must be paid at the time you pay income tax for the year in which the prizes were awarded. If you have cash winnings, money is typically withheld from your winnings for taxes.
Unfortuneatly, the olympians from the USA do have to pay taxes on the winnings from the medals awarded.
Failure to pay taxes on his winnings.
only on wedensdays
no only if they have their I.D card