1. Welcome to Green Bay Packers NFL Football Forum & Community!

    Packer Forum is one of the largest online communities for the Green Bay Packers. You are currently viewing our community forums as a guest user.

    Sign Up or

    Having an account grants you additional privileges, such as creating and participating in discussions. Furthermore, we hide most of the ads once you register as a member!
    Dismiss Notice

It's tax day, remember when Paul Hornung cheated on his?

Discussion in 'Packer Fan Forum' started by OldSchoolFan, Apr 15, 2011.

  1. OldSchoolFan

    OldSchoolFan Cheesehead

    Joined:
    Mar 5, 2010
    Messages:
    793
    Ratings:
    +307
    Yea, back in the day the good old IRS was after the "Golden Boy" for not reporting earned income from the 1961 season. Whhhaaattt?

    Sport magazine named Hornung the most outstanding player in the 1961 Championship Game, which led to a tax dispute that cemented the tax status of awards to athletes. Hornung was awarded a 1962 Corvette by Sport magazine, but the Corvette's fair market value was not included on his tax returns for either 1961 or 1962. Because it would have been impossible for Hornung to take possession of the Corvette in 1961 - the game was played on December 31st in Green Bay and the car was in a closed dealership in New York - it was determined that the car should have been included in income in 1962. More importantly for the athletic community, the court also determined that awards for achievement in the field of athletics do not fall under the exceptions provided under section 74(b) of the Internal Revenue Code. From this point on, it became impossible for athletes to exclude any awards they are given for athletics from their gross incomes.


    I am sure all of the poor pro athletes are still thanking Hornung for this little deal 50 years later!
     
  2. neilfii

    neilfii Hall of Fame Fan

    Joined:
    Jan 24, 2011
    Messages:
    4,681
    Ratings:
    +714
    If it hadn't been Hornung it would have just been someone else. There's no way the IRS would let that slide. You almost have to admire Hornung for having tried.
     
    • Like Like x 2
  3. OldSchoolFan

    OldSchoolFan Cheesehead

    Joined:
    Mar 5, 2010
    Messages:
    793
    Ratings:
    +307
    "...You almost have to admire Hornung for having tried."

    You don't think I don't have a man crush on the old guy?

    Typical Hornung... this was the same guy who said:

    "Never get married in the morning, you never know who you might meet that evening."
     
    • Like Like x 1
  4. longtimefan

    longtimefan Super Moderator Staff Member Super Moderator

    Joined:
    Mar 6, 2005
    Messages:
    17,835
    Ratings:
    +3,481
    Tax day is actually Monday
     
  5. PackersRS

    PackersRS Cheesehead

    Joined:
    Dec 22, 2008
    Messages:
    8,471
    Ratings:
    +980
    Way to ruin the thread with the truth...
     
  6. Boy Scout

    Boy Scout Cheesehead

    Joined:
    Feb 23, 2011
    Messages:
    174
    Ratings:
    +20
    Is there a "dislike" button? ;)
     
  7. neilfii

    neilfii Hall of Fame Fan

    Joined:
    Jan 24, 2011
    Messages:
    4,681
    Ratings:
    +714
    No, but if it will make you feel better, you could like it and then unlike it.
     

Share This Page