Did Randy's Comments Screw the UFC with the IRS?

eregitano · 10-25-2007, 11:24 PM

Randy indicated in his presser today thet the UFC gives significant amounts of $$$jack to fighters off the books in the locker room post fight...

The IRS must be salivating over this...Not only does it fuck over the UFC, but the fighters recieving the bonus checks now could face an audit...

Thoughts?

DeVianT iCoN · 10-25-2007, 11:28 PM

Umm.. i wouldnt think so. As long as Zuffa is reporting the under table bonus's i dont see how it would get the IRS on their tail.

dredd57 · 10-25-2007, 11:29 PM

Quote:

Originally Posted by eregitano

Randy indicated in his presser today thet the UFC gives significant amounts of $$$jack to fighters off the books in the locker room post fight...

The IRS must be salivating over this...Not only does it fuck over the UFC, but the fighters recieving the bonus checks now could face an audit...

Thoughts?

You are insinuating that a company with an annual sales around $1 billion is somehow fooling the FUCKING IRS? Give me a break. You can run from the police for years and never get caught, but nobody seems to get away from the IRS.

ApathyForHire · 10-25-2007, 11:30 PM

Dana's going to Shawshank

Death Roll · 10-25-2007, 11:32 PM

This thread is retarded...nice work Sherlock

eregitano · 10-25-2007, 11:34 PM

Randy specificaly seaid the UFC does not want to report what everyone makes...We would know what those bonuses were if they were reproted...

How many muilti-million dollar CEO's get busted for tax evasion...Don't be so naive fellas.

Kaydoh · 10-25-2007, 11:35 PM

banks have to report check deposits over the 10g amount to the IRS so people cant cheat on taxes. Unless dana is giving the fighters cash and then the fighters never deposit that money in their bank account or deposit it small amounts at a time I don't see them getting away with this. Plus tax free cash gifts can be given from one individual to another as long as they don't total over 30gs per year. The ufc is too big to think they can get away with tax evasion IMO. I think companies learned this lesson with the whole Enron tax scam years back.

jodka · 10-25-2007, 11:38 PM

Quote:

Originally Posted by eregitano

Randy specificaly seaid the UFC does not want to report what everyone makes...We would know what those bonuses were if they were reproted...

How many muilti-million dollar CEO's get busted for tax evasion...Don't be so naive fellas.

Not like this.

"off the books" clearly isn't referring to taxes. No fucking way they are handing out big checks without the IRS knowing, it's nearly impossible.

eregitano · 10-25-2007, 11:39 PM

What about that stack of 10G's he; gave Shamrock after the pool game with Tito...Do you think that was reported?....

Kaydoh · 10-25-2007, 11:40 PM

also if Dana is giving fighters money out of the UFC's profit the UFC would have less profit then if they report these bonus's as a cost of business to the IRS which makes their taxable revenue a smaller amount and their profit more.