Messi & Taylor Swift TAX! Law means fans who resold tickets will face a IRS bill

A new law in the U.S. could mean that fans who have taken up the habit of making a quick buck from reselling tickets for hundreds of dollars to Inter Miami games or the Eras Tour will be taxed by the IRS in 2024.

A new law that's part of the Democrats' American Rescue Plan Act coronavirus relief package of early 2021 will require ticketing exchange and resale companies, such as StubHub and Ticketmaster, to provide information to the IRS on individuals who have sold more than $600 worth of tickets this year, according to The Wall Street Journal.

The Biden administration is aware of the exceptional fiscal year that live events have just come off the back of, considering the commonality that Swifties, MLS fans and Beyoncé stans have: paying a high price, which can easily reach four-to-five figures, to see two of the world's best-selling artists and a World Cup champion perform live.

In particular, prices of tickets to Inter Miami matches surged to $255 a piece from $30 (an 11.76 increase) since Messi joined The Herons in July.

StubHub said that it's platform has experienced an 'unusually high number of fan ticket resellers' this year, which has accounted for 70 percent of U.S. 'Eras Tour' ticket orders - double the amount of what the company normally overviews - The Journal reported. The same isn't too different when it comes to selling tickets to watch Messi play.

Both, Florida resident Jon Steele and his wife are season ticket-holders to Orlando City SC, of the MLS, but have found themselves reselling their tickets to weeknight games lately due to their busy work schedules. Steele told The Journal that he tends to recover 60 percent to 100 of the cost of each tickets, usually about $35, but that also depends on the club's