Olympic Medals Bring Tax Headaches for U.S. Athletes

Lawmakers aim to ease tax burden, but many top athletes still face hefty bills

Published on Feb. 14, 2026

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U.S. Olympic and Paralympic athletes face significant tax bills on the monetary prizes they receive for winning medals, despite efforts by lawmakers to provide tax exemptions. While the United States Appreciation for Olympians and Paralympians Act has largely eliminated federal taxes on these earnings, athletes with incomes over $1 million per year, including many professional hockey players on the U.S. team, are still subject to taxation. Additionally, state and foreign taxes can still apply to Olympic winnings.

Why it matters

The tax burden on Olympic medal earnings has long been a source of controversy, as it can significantly diminish the financial rewards for athletes who have made tremendous personal sacrifices to represent the United States. This issue highlights the complex tax landscape faced by elite athletes and the ongoing efforts by policymakers to support these amateur competitors.

The details

U.S. Olympic and Paralympic medalists receive cash prizes from the United States Olympic & Paralympic Committee (USOPC) - $37,500 for gold, $22,500 for silver, and $15,000 for bronze. These earnings, as well as the value of the medals themselves, are considered taxable income. For high-earning athletes, particularly professional hockey players on the U.S. team, the tax bill can exceed $10,000. While the 2016 United States Appreciation for Olympians and Paralympians Act eliminated federal taxes on these earnings for most athletes, those with incomes over $1 million per year are still subject to taxation. Additionally, state and foreign taxes can still apply to Olympic winnings.

  • The 2026 Milan/Cortina Olympics are currently underway, running from February 6 to February 22.
  • The United States Appreciation for Olympians and Paralympians Act was passed in 2016.

The players

Robert Dold

A U.S. Representative from Illinois who sponsored the United States Appreciation for Olympians and Paralympians Act.

Chuck Schumer

A U.S. Senator from New York who co-sponsored the United States Appreciation for Olympians and Paralympians Act.

John Thune

A U.S. Senator from South Dakota who co-sponsored the United States Appreciation for Olympians and Paralympians Act.

Brady Tkachuk

A U.S. men's hockey player on the 2026 Olympic team who earns $8.2 million per year playing for the Ottawa Senators in the NHL.

Brock Nelson

A U.S. men's hockey player on the 2026 Olympic team who earns $7.5 million per year playing for the Colorado Avalanche in the NHL.

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What they’re saying

“Our Olympic and Paralympic athletes make tremendous personal sacrifices while training to represent Team USA.”

— Robert Dold, U.S. Representative, Illinois (Delaware Gazette)

“(Olympians) represent every aspect of our country's life and a shining hope, too, a crystalline beacon of opportunity that we know is the heart of America.”

— Ronald Reagan, President (Delaware Gazette)

What’s next

The judge presiding over the case will decide on Tuesday whether to allow the U.S. men's hockey players to be exempt from paying taxes on their Olympic earnings.

The takeaway

This issue highlights the complex tax landscape faced by elite athletes representing the United States, and the ongoing efforts by policymakers to support these amateur competitors who make tremendous personal sacrifices. While progress has been made, the tax burden remains a significant challenge for many Olympic and Paralympic medalists.