Forget NCAA, Tarkanian Now Under Fire From IRS
The Internal Revenue Service says former Nevada Las Vegas Coach Jerry Tarkanian and his wife owe $148,893 in back taxes and penalties, mainly because of more than 200 season tickets he received when he was coach.
The IRS said many of the tickets should be construed as income.
Tarkanian contends the tickets were not income, but “were used as promotions for prospects, professional scouts and university personnel.”
He contends coaches across the country use the same promotional procedure.
“Tax Court Reports,” a publication for lawyers and tax accountants, says the case could have “significant implications for highly paid star coaches at big-name colleges.”
“In addition to substantial salaries, universities frequently provide coaches with other income-generating opportunities, from summer basketball camps and sportswear contracts to free tickets,” the publication says.
Tarkanian and his wife, Lois, are challenging the IRS opinion in U.S. Tax Court. Their hearing is scheduled for April 24 in Phoenix.
The IRS says the tickets amounted to $174,650 in income from 1987 through 1991.
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