Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes

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    Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes

    BY Mike Jaccarino/New York Daily News  

    No good deed goes unpunished - the fan who handed over Derek Jeter's 3,000th-hit ball will owe the IRS thousands, tax pros said Monday.

    Christian Lopez, 23, will probably be on the hook for $5,000 to $13,000 because of the luxury seats the grateful Yankees gave him, the accountants said.

    "He's a great guy," says Terry Ganer, a die-hard Yankees fan and accountant for Ganer Grossbach & Ganer in midtown. "But I'm pretty sure the tax man, unfortunately, is not a Yankee fan and will not look at this so sympathetically."

    Lopez says he'll pay - but he wouldn't mind a little help.

    "Worse comes to worse, I'll have to pay the taxes," he told the Daily News on Monday. "I'm not going to return the seats. I have a lot of family and friends who will help me out if need be.

    "The IRS has a job to do, so I'm not going to hold it against them, but it would be cool if they helped me out a little on this."

    Lopez, a Verizon customer sales rep, caught the home run ball on Saturday and gifted it, no strings attached, to Jeter.

    In return, the Yankees gave him luxury suite tix for every remaining home game as well as any postseason games the Yankees may play in - a gift valued in the neighborhood of $32,000.

    He also received some autographed bats, balls and jerseys.

    The IRS declined to comment, but accountants say the agency will view Lopez's reward from the team as income.

    "What this guy did is incredible," said Jack Gold, 51, a CPA for Adelman Katz & Mond in midtown. "I don't know of too many people who would have done that. But the IRS follows the rules, and the rules are the rules. That's the law.

    "The only thing I can equate it to is like going on The Price is Right' and winning an all-expense-paid trip to Tahiti," Gold added.

    One midtown tax pro said that the Yankees should offer Lopez the assistance he needs.

    "It would appear that he's going to be hit with some tax consequences," said CPA Bob Charron, 64, a partner at Friedman LLP in midtown. "What the Yankees should do is pay the taxes on this for him - if they really want to make a public relations triumph."
    Christian Lopez was lucky fan who grabbed Derek Jeter's historic 3,000th hit, a home run.

     Christian Lopez
     
  2. You have chosen to ignore posts from NUSoxFan. Show NUSoxFan's posts

    Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball, will owe IRS thousands

    This would've been simplier had Derek hit a single.
     
  3. You have chosen to ignore posts from jesseyerica. Show jesseyerica's posts

    Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes

    From ESPN/New York
    If the fan who returned Derek Jeter's 3,000th hit ball has to pay taxes on the goods he received from the New York Yankees, companies are ready strike out his debt.

    Christian Lopez, a 23-year-old cellphone salesman from Highland Mills, N.Y., scooped up the milestone baseball on Saturday. Instead of trying to sell the ball, he decided to give it back to Jeter. The Yankees responded by giving him memorabilia and tickets, setting off media speculation that Lopez would have to pay taxes on his windfall.

    According to accountants contacted by the New York Daily News and New York Times, that tax bill could end up being anywhere from $5,000 to $14,000.

    "Worse comes to worse, I'll have to pay the taxes," Lopez told the Daily News on Monday. "I'm not going to return the seats. I have a lot of family and friends who will help me out if need be.

    "The IRS has a job to do, so I'm not going to hold it against them, but it would be cool if they helped me out a little on this."

    Well, it looks like he will get some help if he needs it. Miller High Life issued a statement on Wednesday saying that the company would cover Lopez's tax bill.

    "Miller High Life believes you should be rewarded for doing the right thing, not penalized," said Miller High Life brand manager Brendan Noonan in a statement. "We want to recognize Christian Lopez, and in turn everyone like him, for doing the common sense thing and help him continue to live the High Life."

    The sporting goods store Modell's will also announce on Wednesday afternoon at its Times Square location that five percent of all of its Yankees merchandise sales from July 13-19 will be donated to Lopez to help pay the taxes and student loans he's accrued. Lopez has said he owes $100,000 from his days at St. Lawrence University.

    According to reports, Lopez received luxury box tickets for the rest of the season (including postseason), signed baseballs, bats and jerseys from Jeter. He also received front-row seats to Sunday's Yankees-Rays game.

     
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    Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes

    In Response to Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes:
    [QUOTE]From ESPN/New York If the fan who returned Derek Jeter's 3,000th hit ball has to pay taxes on the goods he received from the New York Yankees, companies are ready strike out his debt. Christian Lopez, a 23-year-old cellphone salesman from Highland Mills, N.Y., scooped up the milestone baseball on Saturday. Instead of trying to sell the ball, he decided to give it back to Jeter. The Yankees responded by giving him memorabilia and tickets, setting off media speculation that Lopez would have to pay taxes on his windfall. According to accountants contacted by the New York Daily News and New York Times, that tax bill could end up being anywhere from $5,000 to $14,000. "Worse comes to worse, I'll have to pay the taxes," Lopez told the Daily News on Monday. "I'm not going to return the seats. I have a lot of family and friends who will help me out if need be. "The IRS has a job to do, so I'm not going to hold it against them, but it would be cool if they helped me out a little on this." Well, it looks like he will get some help if he needs it. Miller High Life issued a statement on Wednesday saying that the company would cover Lopez's tax bill. "Miller High Life believes you should be rewarded for doing the right thing, not penalized," said Miller High Life brand manager Brendan Noonan in a statement. "We want to recognize Christian Lopez, and in turn everyone like him, for doing the common sense thing and help him continue to live the High Life." The sporting goods store Modell's will also announce on Wednesday afternoon at its Times Square location that five percent of all of its Yankees merchandise sales from July 13-19 will be donated to Lopez to help pay the taxes and student loans he's accrued. Lopez has said he owes $100,000 from his days at St. Lawrence University. According to reports, Lopez received luxury box tickets for the rest of the season (including postseason), signed baseballs, bats and jerseys from Jeter. He also received front-row seats to Sunday's Yankees-Rays game.
    Posted by jesseyerica[/QUOTE]

    Very interesting article.  Thanks for posting it. 
     
  5. You have chosen to ignore posts from jesseyerica. Show jesseyerica's posts

    Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes

    Your welcome susan250.
     
  6. You have chosen to ignore posts from jesseyeric. Show jesseyeric's posts

    Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes

    One question - if other companies or say, even Jeter offered to pay the taxes on the gift of tickets, would that also be considered taxable income? Just wondering.
     
  7. You have chosen to ignore posts from mnsoxcat. Show mnsoxcat's posts

    Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes

    In Response to Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes:
    [QUOTE]One question - if other companies or say, even Jeter offered to pay the taxes on the gift of tickets, would that also be considered taxable income? Just wondering.
    Posted by jesseyeric[/QUOTE]Yes it would be.  Usually, the amount paid iin the "gift" included the tax on the gifted amount.  However, there is an annual exemption on individual gifts to others that could reduce the tax bill.
     
  8. You have chosen to ignore posts from RedSoxKimmi. Show RedSoxKimmi's posts

    Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes

    I was troubled reading about this yesterday, that a guy who did a very good and unselfish deed was going to have to pay quite a bit in taxes.  There is something very wrong with that picture.

    Anyway, I'm glad to see that some businesses are stepping it up to alleviate at least some of the cost.  Kudos to them.
     
  9. You have chosen to ignore posts from OhEFFU. Show OhEFFU's posts

    Re: Christian Lopez, fan who handed over Derek Jeter's historic 3,000th-hit ball Update!- Christian Lopez won't pay taxes

    You know, General Electric paid NO federal income TAX last year.  Now there's a picture with a problem.

     
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