The IRS has issued a memo stating that donations to NIL collectives may be subject to federal taxation as they primarily serve the private interests of student-athletes. Student-athletes engaging in NIL activities should consider the tax implications of the IRS decision.

An account of the exorbitant price that one individual had to pay as a result of protesting against taxes, amounting to a staggering sum of $200,000.

A tax protester is someone who refuses to pay a tax claiming that the tax laws are unconstitutional or otherwise invalid. So, if you're thinking about becoming a tax protester, be warned: you're likely to lose, and you could end up paying a hefty fine.