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The Chip Board Archive 11

Re: US Citizens..
In Response To: Re: grin Alien Tax? ()

..get W2G's for slot wins of $1,200 or more, regardless of the bet.
Keno wins of $1,500 or more, but the bet is deducted.
Example:
Bet $1, win $1,500 = no W2G.
Bet $1, win $1,501 = get a W2G.
No W2G on table game wins.
Losses can be deducted from W2G wins when you file your taxes at the end of the year.

In NV wins of $600 or more from poker jackpots require a 1099.
In NV, some poker rooms follow the Binion's Closing Agreement for tournament wins, some do not. (W2G on wins of $600 or more)
IMO all should follow the agreement. My CFO is in dis-agreement with me. grin He wins. grin

Foreign winners witholding is 30% depending on the country they are from and if their country has a tax treaty with the US.
Example:
England, Germany, Italy, etc have tax treaties, no witholding.
France, no treaty, hold 30%.
Denmark tax free $3,000 and under, 30% held on all over $3,000.
Foreign witholding is very complicate. Each country can be different. Tax treaties for any given country can change from year to year.

Messages In This Thread

Winnings of $600 or more are taxed by some
Re: Winnings of $600 or more are taxed by some
Re: Winnings of $600 or more are taxed by some
Re: Winnings of $600 or more are taxed by some
grin Alien Tax?
Re: grin Alien Tax?
Re: grin Alien Tax?
Re: US Citizens..
Re: US Citizens..
Re: US Citizens..
Re: US Citizens..
Re: US Citizens..
Why slots but not table games?
Re: Why slots but not table games?
Re: Why slots but not table games?
One other thing Ive never understood...
Re: I had to give my name ...
Re: I had to give my name ...
Re: I had to give my name ...
Re: BTW ...
Re: BTW ...
Re: BTW ...
Re: US Citizens.. Oh No!
Re: grin Alien Tax?
Re: grin Alien Tax?
Re: grin Alien Tax?
Re: grin Alien Tax?
Re: grin Alien Tax?
Re: Winnings of $600 or more are taxed by some
Re: Winnings of $600 or more are taxed by some
Re: Jim and Gene
Re: Jim and Gene
Re: Jim and Gene
Re: Jim and Gene
Re: So in other words..
Re: No You Don't have It.
Re: No You Don't have It.
Re: Jim and Gene

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