Tax Exemption, Part Deux

Feel free to refresh your memory regarding the congressional inquiries into the NCAA's tax exempt status...

And then, read this article by George Will (yup, the Washington Post/Newsweek/Meet the Press guy)

Post: Tax Breaks for Football

He attempts to look quickly at the question- "What is the place of high-stakes football in higher education?"

But, of course, this may go nowhere:

University of Illinois law Professor John Colombo, a tax expert who also testified before the committee, believes the NCAA is in no real danger for two reasons: IRS precedent and the popularity of college sports. "(The IRS is) going to reverse 40 years of their own precedent?" Colombo said. "And if they do, how will congressmen from Texas and California -- and let's throw Oklahoma in there -- react? It's a political non-starter. "This is a not-so-subtle warning to the NCAA that its actions have consequences. The message is that Congress could step in and make your life miserable."

We'll keep you posted...