Not content with fucking over enough poker players by passing legislation that amounted to an online poker ban in 2006, the United States government is requiring casinos to report the winnings and information of players that finish in the money to the IRS.
Starting [March 4th], the IRS will know just how much a player who won more than $5,000 actually won and will demand the player pay taxes on the winnings of 25 percent. If a player refuses to give the casino his tax information, then the casino must take 28 percent of the winnings for taxes.
Granted, any winnings like these should have been reported to the IRS with form W-2G (it's the white one), but this whole deal still reeks of total bullshit. People paying taxes on money that's already been taxed because it came from other people that entered the tournament? Plus, 25 percent? Are we now living in a socialist regime? I hadn't realized the Canadian dollar was so strong that it was taking over our entire government. Fucking Patriot Act. — Monday Morning Punter
I want more like this!
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