IRS Makes Sure No Good Deed Goes Unpunished

The other day I mentioned the story of the man who caught Derek Jeter's 3,000th hit (a home run) and returned it to the Yankee star while requesting nothing in return. His good deed will now be punished:

Christian Lopez, 23, recovered the prized ball his father fumbled after The Captain hammered it into their section of the stands in the third inning of the Yankees’ win over Tampa Bay on Saturday.

The Verizon salesman from Highland Mills, N.Y., gave the ball back to Jeter, whom he called an “icon,” and the Yankees lavished a slew of prizes, including luxury box seats for every remaining home game this season and post-season and some signed memorabilia.

Now the IRS wants a piece. The prizes Lopez received are estimated to be worth more than $32,000 — and, like game show contestants, Lopez may have to pay taxes on the gifts and prizes because the IRS considers them income.

Some estimate the IRS will put Lopez on the hook for anywhere between $5,000 and $13,000, reports the Daily News.

Because his prizes from the Yankees don't involve actual cash this could put Lopez in a bit of a financial bind. He would have been better off selling the ball for big bucks (and somebody would have paid) and then had the cash to pay the taxes.