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Why not, the gift rules are very broad, a donor can give a gift to a stranger with no tax due (as long as its below the annual limits).

https://www.fool.com/taxes/2019/12/14/gift-tax-in-2020-how-much-can-i-give-tax-free.aspx

Discussions such as these are why I am no longer a CPA! 👓

No way an offshore account would be used, that would definitely get the attention of the authorities.

I am not a participant nor expert in the bag game, just using common sense. The bags are not all at once...visit the school, go an official, sign, be on roster, etc. Multiple bag men coul gift the annual limits, so instead of a grantor gifting $100K to one recruit, they can $10k a year for 10...

I no longer practice tax accounting, but I believe that the bags would be treated as a gift from the booster and no tax would be due.