re: Loyola Marymount to cut 6 sports in response to NIL

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What happens when will the cost of the "scholarship" is considered imputed income?

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If they become/classified as employees a scholarship would be considered imputed income but probably relabeled not scholarship at that point.

Something these kids think they want but when the IRS comes calling who are just waiting at the gates for the Dept of Labor to reclassify them as employees these fringe benefits along with Jock tax and other items they did not realize are going to be a nightmare for athletes in sports that do not generate NIL deals like football and basketball.

75% or more of college athletes if get labeled as employees will be in the hole each year for back taxes.