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Old 12-24-2009, 04:42 PM
 
549 posts, read 1,380,022 times
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Quote:
Originally Posted by dynimagelv View Post
Federal income tax applies to everyone.....if you win enough it WILL be taxed.
Ummm... wonder if you're not a US Citizen? Also, the casino's send out W-2G for gaming winnings or you can sometimes pull them off from online. Reporting gambling winnings
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Old 12-24-2009, 05:30 PM
 
Location: Kingman AZ
15,370 posts, read 39,105,648 times
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If you don't have a SSN [as in non-citizens] the payout is given LESS the taxes....and the casino save you the trouble of filing.
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Old 12-24-2009, 11:23 PM
 
549 posts, read 1,380,022 times
Reputation: 164
Quote:
Originally Posted by dynimagelv View Post
If you don't have a SSN [as in non-citizens] the payout is given LESS the taxes....and the casino save you the trouble of filing.
Humm.. didn't know that. Thanks.
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Old 12-25-2009, 10:29 AM
 
16,393 posts, read 30,270,786 times
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Quote:
Originally Posted by sierramadre44 View Post
Ummm... wonder if you're not a US Citizen? Also, the casino's send out W-2G for gaming winnings or you can sometimes pull them off from online. Reporting gambling winnings
Yes, the casino withholds taxes. Then the non-resident has to file a US return to get a refund if one is coming.

Since I am active on the tax boards, I have had a number of non-residents contact me regarding a US tax return due to W-2G income. I have always directed them to the IRS websute.

A few years ago, an employee won one of those race car training classes. He was always bummed out that he had to pay taxes on the package which was worth of $5k. After I did his taxes, that "win" cost him an additional $500 in income taxes. After hearing all the complaining, I asked him if he would purchase another prize package for $500. He said, of course. Then, he had received his money worth.

All prizes are taxable.
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