Comments on: New tax on tournament winnings http://threads13.wordpress.com/2007/09/18/new-tax-on-tournament-winnings/ Thoughts and discussions on poker. Sat, 31 Oct 2009 20:49:23 +0000 http://wordpress.com/ hourly 1 By: threads13 http://threads13.wordpress.com/2007/09/18/new-tax-on-tournament-winnings/#comment-30 threads13 Sat, 22 Sep 2007 21:32:09 +0000 http://threads13.wordpress.com/2007/09/18/new-tax-on-tournament-winnings/#comment-30 Good catch. Of course, there is a bit of disdain when I see stuff like this come out because it is related to the government, and Conservative America in general, treating gambling like the devil. Good catch.

Of course, there is a bit of disdain when I see stuff like this come out because it is related to the government, and Conservative America in general, treating gambling like the devil.

]]> By: cvimes2p2 http://threads13.wordpress.com/2007/09/18/new-tax-on-tournament-winnings/#comment-28 cvimes2p2 Wed, 19 Sep 2007 02:27:12 +0000 http://threads13.wordpress.com/2007/09/18/new-tax-on-tournament-winnings/#comment-28 Just remember, this is not a new tax. This is merely a withholding requirement. Much like taxes taken out of your paycheck every week. Why is the IRS doing this? Well, poker players, being the degenerate gamblers that we are, tend to spend the money and then when tax time come we go oh yeah. OOPS. It's similar to what they do at a casino if you hit the slots big, or if you win a longshot at the track. The Govt. wants to make sure they get their share before you get the chance to squander it all on hookers and blow. Just remember, this is not a new tax. This is merely a withholding requirement. Much like taxes taken out of your paycheck every week. Why is the IRS doing this? Well, poker players, being the degenerate gamblers that we are, tend to spend the money and then when tax time come we go oh yeah. OOPS. It’s similar to what they do at a casino if you hit the slots big, or if you win a longshot at the track. The Govt. wants to make sure they get their share before you get the chance to squander it all on hookers and blow.

]]>