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Yeah, taxes are not an issue to expend political capital on atm. But, the process would make almost no noise if put into effect in our favour. You know as a lobbyist, that when you ask for something, someone wants something back.
We have to get the internet back in poker for the recreational player, first and foremost. Though tax treatment would be an effective recruitment tool at next year's WSOP. Maybe we can democratically take over our own union and start doing things to benefit the poker community.
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John Pappas replied to this issue as follows:
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I would also point out that this ruling, as I understand it, is based on the IRS opinion that poker is
not a game of skill and should be taxed at the same rate of “wagering pools” like lotteries.
I think this is an issue that effects all poker players, not just high stakes pros. The PPA will dedicate the appropriate amount of time on this effort and will be sure that it does not slow us down on other fronts ...
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It sound appropriate to me. If we're going to get the tax justice we want, long-term, we should start by fighting it being designated as a wagering pool.
Here's a post from
www.taxabletalk.com/posts/1188594494.shtml
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Poker Tournaments Takes a Hit
Back in 2005, I speculated that the IRS would write a regulation requiring withholding from poker tournaments. The IRS will, on Tuesday, announce Revenue Procedure 2007-57, requiring withholding from any winner of a poker tournament who has received more than $5000 in winnings from the tournament......
Posted by Russ on Friday August 31, 2007 at 2:08pm
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