Amends the Internal Revenue Code to require income tax withholding for name, image, and likeness payments to student athletes.

The bill amends the Internal Revenue Code to require income tax withholding at the source for payments made to student athletes for the commercial use of their name, image, or likeness. This applies to payments made to independent contractors who are student athletes. The withholding rate is set at 30 percent of the payment amount. The bill also includes a waiver of underpayment penalties for new student athletes and mandates a report by the Secretary of the Treasury on the effects of this withholding. The changes will apply to payments made in taxable years beginning after December 31, 2027.

Amends the Internal Revenue Code to require income tax withholding for name, image, and likeness payments to student athletes.

The bill amends the Internal Revenue Code to require income tax withholding at the source for payments made to student athletes for the commercial use of their name, image, or likeness. This applies to payments made to independent contractors who are student athletes. The withholding rate is set at 30 percent of the payment amount. The bill also includes a waiver of underpayment penalties for new student athletes and mandates a report by the Secretary of the Treasury on the effects of this withholding. The changes will apply to payments made in taxable years beginning after December 31, 2027.