US gold medallists might pay nearly $10k in tax
American Olympic medalists are required to pay taxes on the prize money received and the monetary value of the medals. Gold medallists, who are included in the top tax bracket, are required to pay as much as $9,990 as taxes. The US Olympic Committee awards $25,000 for gold, $15,000 for silver and $10,000 for bronze medals, all as taxable income.