Читать книгу Casino Gambling For Dummies - Swain Scheps - Страница 119

It’s a known fact that casinos typically report some activity to the IRS — but not all. In almost every setting, the house alerts the IRS with a Currency Transaction Report by Casinos (CTRC) when a player buys in or cashes out for $10,000 or more in one day. The same is true if you make a $10,000 bet on a horse or a sporting event.

Don’t waste your time begging casino employees not to fill out tax forms on you (either a CTRC or a W-2G). U.S. laws require these forms, and trying to avoid them can land you in hot water. Casinos send the W-2G to Uncle Sam, and you get a copy at the end of the year. Make sure you include a copy when you file your return.

Hopeful gamblers may believe they only have to pay taxes on winnings that the casino reports to the IRS. Not true. All gambling winnings are subject to taxation, whether they come from a foreign country, the Internet, your neighbor’s poker game, a church bingo night, or a casino. Many players ignore this law, however, figuring Big Brother won’t find out about their small wins.

The IRS can conceivably obtain records from your favorite casino to determine your yearly win or loss, although I’m not aware of any such cases. But remember this principle: Underpaying your taxes is a crime. So, even if your chance of getting caught is small, it’s not worth the gamble.