Reply to thread

Message: [QUOTE="texascpa, post: 2321658, member: 468"] Adidas doesn't have to report these other than through a 1099. Now, of course, they processed the payments under a fake company (falsified invoices). But the penalty for not reporting or reporting a 1099 in error is like $50. Violating NCAA rules is not a crime. The Feds concern is the money that went to the coaches and financial advisers. The IRS may be interested in the tax stuff and I'm sure they'll get involved in one way or another, it's just not the focus at the moment. [/QUOTE]