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Re: Thanks for the entertaining posts.

 Posted by Bob Miller on 16 October 2005, at 3:01 p.m., in response to Thanks for the entertaining posts., posted by clown on 23 October 2004, at 4:57 p.m.
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Clown,

 

Per law, passed by Congress, there is no withholding or reporting of wins on table games unless it is a tournament or like-kind gaming where everything is tracked.

 

If you make a transaction in the casino that is or borders on $10k then an old law kicks in. So because of the buttheads here that think they know so f---ing much more than I and I have little time for their crap, I will just urge you (and others) to Google the term "FINCEN" (w/o the quotes).

 

You should run into a file that is titled FINCEN, a guidance for casinos (or something similar).

 

Since some heavy drug users here cannot distinguish between withholding and paying taxes I'll reiterate that no casino in the USA will, can, shall or must withhold taxes or issue or cause to issue a W2G on table wins as they do in regard to slots and tournaments. You are expected, however, to report all session wins per the IRS mandate.

 

Good luck at the tables.

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