US Olympians who medal in London get to share some of their glory with the IRS.
Here's how it breaks down:
Gold: Given the $25,000 cash award and the value of the medal itself ($675), recipients would owe the IRS up to $8,986
Silver: The cash award of $15,000 plus the medal itself ($385) equal a tax bill of up to $5,385
Bronze: The cash award of $10,000 plus the medal ($5) equal a tax bill of up to $3,502
Yesterday, Marco Rubio introduced a measure in the Senate to immediately stop the practice of taxing successful Olympians. His measure would apply to awards won after 2011.