Thread: WSOP & the IRS.
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Old 07-16-2005, 11:45 AM
Masquerade Masquerade is offline
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Join Date: Sep 2004
Posts: 652
Default Re: WSOP & the IRS.

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Non-US Citizens and those that can't provide sufficient ID will have taxes witheld. Foreigners have taxes witheld because they obviously wouldn't pay the taxes once they left the country.

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Unless they come from a country with a double taxation treaty with the US. If a UK player won the WSOP they would receive all their winnings tax free as there are no taxes on poker winnings in the UK and UK residents don't have to pay tax in the US due to the treaty. I wonder if Australia has the same deal as the UK!

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Correct.
IRS website

Tax Treaties

Gambling income of residents (as defined by treaty) of the following foreign countries is not taxable by the United States: Austria, Czech Republic, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Netherlands, Russian Federation, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Tunisia, Turkey, Ukraine, and the <font color="purple">United Kingdom</font>.

Woo-hoo. Sorry Aussies.
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