Received W2 request from Casino by mail for $1000 win? - Poker Legislation

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Received W2 request from Casino by mail for $1000 win?

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09-09-2009 , 08:13 PM

sfetaz

adept

Join Date: Jan 2007 Posts: 863

I play at the Taj Mahal a lot and recently got a letter from their accounts department requesting I fill out a W2 because of a recent event win of at least $1000. I thought the form was to be filled out for wins of $10000 or more, so what is the reason for this? They do not mention the specific date or event in question so I do not know which event triggered this.

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09-10-2009 , 12:43 AM

BigAlK

Pooh-Bah

Join Date: Jul 2006 Posts: 3,703

You need to get your story straight here (at a minimum the right form).

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09-10-2009 , 04:37 AM

PokerXanadu

Carpal \'Tunnel

Join Date: Oct 2006 Posts: 10,583

On IRS site:

http://www.irs.gov/taxtopics/tc419.html

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09-10-2009 , 10:30 AM

TruePoker ex-CEO

veteran

Join Date: Sep 2002 Posts: 2,802

Quote:

Originally Posted by sfetaz

You have a couple of choices, assuming you already know to declare gambling winniings as income,

1. Write them back and ask for details.

2. Ignore the letter (as you already plan on reporting your gaming income properly anyway.)

3. Look over your own records of the apparently numerous $1,000+ cashes you have had at the Taj iin 2009, Compare their response to #1 to your list to make sure you accurately are reporting your income for tax purposes.

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09-11-2009 , 06:21 AM

sfetaz

adept

Join Date: Jan 2007 Posts: 863

My apologies, I mentioned the wrong form. They asked me to fill a W9 form and I was wondering why.

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09-11-2009 , 06:30 AM

PokerXanadu

Carpal \'Tunnel

Join Date: Oct 2006 Posts: 10,583

Quote:

Originally Posted by sfetaz

My apologies, I mentioned the wrong form. They asked me to fill a W9 form and I was wondering why.

!. So they have your info in case they have to do a W-2G on you.

2. So they have the proper documentation on file, so they don't have to do tax withholding on your winnings.

One or both of these would be my guess, more likely #2. They probably sent the same thing to every player who showed a win of $1K or more, just to cover their bases.

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09-14-2009 , 03:14 AM

sfetaz

adept

Join Date: Jan 2007 Posts: 863

Ok thank you for the info everyone. I try to drop it off at their office when I am there this week.

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