🚨 New US Tax Proposal Could Impact Overseas Athletes and Expats

A new US tax bill has just been proposed that could have a direct impact on overseas athletes, students, agents, and coaches — as well as anyone sending or receiving money in and out of the United States.

At SportsFX, I stay across global developments like this so I can help protect your income, avoid surprises, and look for strategic opportunities when they come up.

Here’s a breakdown of what we know so far:

🧾 What’s in the Bill?

• New 3.5% Excise Tax: This would apply to money transfers sent from the US by non-US citizens or non-residents. It’s designed to take effect in 2026.

• Applies to Non-Citizens: That includes foreign athletes, coaches, students, or consultants working in the US but sending funds back home.

• Reporting Required: Banks and financial providers in the US would need to report these transfers, with stricter rules on tracking who’s sending what, where.

• Refundable Tax Credit: US citizens, green card holders, and visa holders may be able to claim this 3.5% back — but others may not.

• Increased Withholding on Foreign Income: Another section of the bill would raise US tax on money paid to people in countries that the US views as having unfair tax practices. That could impact things like prize money, sponsorship income, or business deals.

🌍 Why It Matters for Our Clients

Whether you’re:

• Playing sports in the US

• Studying on a scholarship

• Coaching or consulting across borders

• Or running an international business with USD exposure

This could affect how much money actually reaches your account and how much tax gets taken out along the way.

Even if you’re based outside the US, but work with American teams or brands, this may apply to you.

🔍 What We're Doing About It

This bill is still in early stages, and it may change, but I’m already:

• Talking to legal and tax experts in the US, Canada, and Australia

• Reviewing timing strategies that could help avoid unnecessary costs

• Preparing clear updates to keep you informed every step of the way

⚠️ What You Can Do Now

✅ If you’re earning or transferring over $50,000 USD in or out of the US — let’s have a chat about how this might impact you.

✅ If you’re an agent, manager, or business advisor — I’ll keep you and your clients up to speed with practical advice and clear updates.

📩 Just reply to this email or reach out at [email protected]

Stay tuned, I’ll continue to keep you informed and ahead of the game.

Chris Broadfoot
SportsFX