IRS TO TAKE A CUT OF SPAIN'S £38 MILLION WORLD CUP PRIZE 💰🇪🇸 Spain may have won a record £38 million prize for lifting the World Cup trophy, but they won't be keeping all of it. Because the World Cup was hosted in the United States, a portion of the prize money is expected to be subject to US federal tax rules, meaning the Internal Revenue Service (IRS) could take a significant share before the full amount reaches the Spanish football federation. Tax experts say earnings generated on US soil, including prize money from major sporting events, can fall within the scope of American taxation, although the final amount paid will depend on various exemptions, treaties and deductions. The situat
IRS TO TAKE A CUT OF SPAIN'S £38 MILLION WORLD CUP PRIZE 💰🇪🇸 Spain may have won a record £38 million prize for lifting the World Cup trophy, but they won't be keeping all of it. Because the World Cup was hosted in the United States, a portion of the prize money is expected to be subject to US federal tax rules, meaning the Internal Revenue Service (IRS) could take a significant share before the full amount reaches the Spanish football federation. Tax experts say earnings generated on US soil, including prize money from major sporting events, can fall within the scope of American taxation, although the final amount paid will depend on various exemptions, treaties and deductions. The situation highlights how winning football's biggest prize can still come with a hefty tax bill attached. #ThisIsMoney #Money #News #UK ♬ Go Get That Money - Money Man
