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1 week ago

IRS in the hot seat over potential cash grab from Spain's World Cup winnings: 'It's a rip-off'

As reigning 2026 FIFA World Cup champions, Spain won $50 million in prize money, but a large portion of that could be subject to federal taxes in the United States — potentially up to 30%."I think it's a rip-off," Rep. Tim Burchett, R-Tenn., told Fox News Digital."I'm not a fan of it, but Americans have to do it. American professional athletes do it, so they knew that when they came over here."SPAIN BEATS ARGENTINA TO WIN 2026 FIFA WORLD CUP BEHIND FERRAN TORRES' EXTRA-TIME GOALIncome earned from activities performed in America is generally, in almost all instances, taxable by the IRS. Under t...