Friday, 15 March 2013

Golfer Garcia scores birdie, not quite eagle, in U.S. Tax Court (Reuters)

Sergio Garcia of Spain watches his tee shot on the first hole during the second round of the WGC-Accenture Match Play Championship golf tournament in Marana, Arizona February 22, 2013. REUTERS/Matt Sullivan

By Patrick Temple-West WASHINGTON (Reuters) - Spanish golfer Sergio Garcia has won a U.S. Tax Court ruling that could have repercussions for famous international sports stars who cash in on corporate sponsorship deals, tax professionals said on Friday. In a dispute with the Internal Revenue Service over a $1.7 million tax bill, the court ruled largely, though not entirely, in Garcia's favor. Lawyers said others might benefit from the ruling, depending on how their home countries tax royalties. The tax-collecting IRS declined to comment. ...




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