As college athletes cash in on NIL, tax experts and schools remind them to pay Uncle Sam

College athletes making money on NIL deals, reminded to pay taxes

Norfolk State University dual athlete from cashing in on sponsorships that are now allowed under a new policy changing the financial landscape  in amateur sports. 

Until last July, student-athletes couldn’t profit if their name, image or likeness was used to sell products. Now, under the new NIL policy introduced in summer 2021, they can, and many are learning their new-found earnings come with responsibilities beyond going to practice and marketing themselves.