Tax on American Poker winnings

[the al kid]

Hi all,
myself and the OH are heading to Vegas end of February and we hope to play in some tourneys .What is the story with tourney winnings.I was told they are subject to American tax.Is this true and is there any way around this?

TIA Al

[bohsman]

There's a tax agreement with Ireland, your poker room should be able to help you fill in the correct form, can't remember the name of the form atm. You wont have to pay tax and afair that form will only come into effect if you win 10k+ in a single tournament.

edit - ITIN form

[Marsden02]

love the confidence. gl

[corkie123]

Hi all,
myself and the OH are heading to Vegas end of February and we hope to play in some tourneys .What is the story with tourney winnings.I was told they are subject to American tax.Is this true and is there any way around this?

TIA Al

http://www.pokergurublog.com/content...ize-paid-taxes read this

dont know if this is true but it pays to stay a amateur then its tax free you just need to fill out a form there to get paid in full they tell you this at pay desk if your lucky enough

but i like to know if eoghan o dea did have to pay taxes here it would answer a lot of questions been asked here about taxes on winnings

[thechamp87]

It only applies to cashes over $5k iirc.

[bohsman]

but i like to know if eoghan o dea did have to pay taxes here it would answer a lot of questions been asked here about taxes on winnings

Would also be strange considering we seem to have a definite answer from Revenue in the tax thread.

[thedini]

http://www.pokergurublog.com/content...ize-paid-taxes read this

dont know if this is true but it pays to stay a amateur then its tax free you just need to fill out a form there to get paid in full they tell you this at pay desk if your lucky enough

but i like to know if eoghan o dea did have to pay taxes here it would answer a lot of questions been asked here about taxes on winnings

lol, that article is bs.

[the al kid]

Thanks for all the replies.Sure if you arnt optimistic no point in playing.So this form as mentioned by Bohsman is available in the poker rooms and only applies if you win either 5k or 10k in a single tournament depending on who is right.For winnings under those figures are they subject to any tax at all?Again thanks for the replies.Think I might change my name to "the Eternal Optimist"


Al

[bohsman]

Under that amount they'll just cash everyone out no questions asked, if you have a big win ask the poker room for help with the ITIN, if you are really really optimistic just ask for help getting it sorted out in the hotel you are staying in when you arrive.