Tax Resolution Attorney John P. Willis Writes About The Announcement That Allows College Athletes To Profit From Their Name, Image And Likeness And The Possible Tax Repercussions.

Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR informs readers about the potential pitfalls that college athletes may face at tax time when profiting from their name, image and likeness (NIL).

Fairhope, AL, November 05, 2021: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published a blog on his website entitled “A New Boon For College Athletes Could Lead To Big League Tax Issues,” in which Mr. Willis lets readers know how they can avoid tax troubles.

Willis writes, “Late last month it was announced that The National Collegiate Athletic Association began allowing university athletes to earn money from their name, image and likeness (NIL).” He acknowledges, “That’s a coup for the college athletes, but,” he adds, “let me clue you in, it could be a double-edged sword when they find themselves owing taxes for the first time in their lives.” Willis continues, “It’s not surprising that most college athletes are not experienced at paying taxes. Unless they’ve had jobs they may never have received a 1099 form. If any of these athletes start getting lucrative endorsement deals, they’ll need professional tax help.”

“In fact,” as Willis points out, “if your college kid is an athlete who is likely to benefit from the new ruling, you may want to find a good tax attorney to work with before the upcoming tax season. If the endorsements they get are significant, you can count on there being tax complexities.”

The entire blog can be read at: LINK HERE

ABOUT JOHN WILLIS

Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 23 years and, he brings together an abundance of skills and experience that can be of assistance to almost anyone.

ABOUT THE IRSALLSTAR TEAM

The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed, and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities. The entire blog can be found at http://www.irsallstar.com/blog/irs-tax-controversy-even-death-cant-stop-the-irs.php

To learn more about Mr. Willis and his law firm please visit http://www.IRSALLSTAR.com or call toll-free 877-254-4254.

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