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16 Sports Law. J. 139 (2009)
Homeruns and Taxes: The IRS and Its Treasure Trove Regulation

handle is hein.journals/sportlj16 and id is 141 raw text is: Homeruns and Taxes: The IRS and Its Treasure Trove Regulation Neil M. Mazer* I. INTRODUCTION ................................................................................. 139 II. THE SIXTEENTH AMENDMENT AND DIRECT TAXATION OF IN C O M E ............................................................................................. 14 1 A. History ofFederal Tax Powers ................................................ 141 B. D efining 'Incom es ............................................................... 142 III. THE TREASURE TROVE REGULATION ............................................... 144 A. What Treasure Trove Means ............................................... 144 B. Valuation of Treasure Trove .................................................... 145 C Lack ofEnforcement of the Treasure Trove Regulation ....... 147 IV PROPOSAL FOR HEARING A CHALLENGE TO THE TREASURE TROVE REGULATION ......................................................................... 149 A. Applying Chevron Deference ................................................ 149 B. AdditionalRequirement ofNational Muffler ........................ 152 V ALTERNATIVE MEANS OF TAXING HOMERUN BASEBALLS .............. 153 A. Defering the TaxAssessment ............................................... 153 B. Treating the Baseball as a Lottery Win .................................. 155 C The Bargain Purchase Concept .............................................. 155 V I. C ON CLU SION .................................................................................... 157 I. INTRODUCTION Baseball has always held a special place in American life. Whether it is the avid fan rattling off stories of on-field feats of the past or the family bonding over a hot dog beyond the outfield fence, baseball touches nearly every American's life at some point in time. But this special place for baseball does not exist only in the eyes of the individual citizen. Congress and the courts have recognized the great American pastime's role in American culture as well, sometimes going so far as to take governmental action to protect the game.' Congress has granted * © 2009 Neil M. Mazer. Neil M. Mazer is a recent graduate of Michigan State University College of Law, where he concentrated in corporate law. This Article was written during Fall 2007. 1. See Fed. Base Ball Club of Bait., Inc. v. Nat'l League of Prof'l Base Ball Clubs, 259 U.S. 200,209 (1922); Flood v. Kuhn, 407 U.S. 258, 259 (1972). 139

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