Olympic athletes who bring home the gold, silver and bronze for Team USA will no longer pay a "victory tax" for their achievement under a bill President Barack Obama signed into law Friday.
The IRS will now be prohibited from taxing most medals or other prizes awarded to U.S. Olympians.
The bill was among more than a dozen pieces of legislation signed by Obama, including measures to help sexual assault victims and parents with babies in need of a diaper change. Another new law targets the growing worldwide problem of illegal wildlife poaching and trafficking.
The U.S. Olympic Committee awards cash prizes to medalists, ranging from $25,000 for gold, $15,000...