Re: A List of the Best Overall Hold \'em Tournaments in Las Vegas
[ QUOTE ]
For clarification, they are withholding 30% of your prize and then giving you the remaining 70% of your winnings? Or, they are giving you the full amount of your winnings and also filing appropriate paperwork with the IRS? Might be me but I am finding this unclear.
[/ QUOTE ]
I'll quote a Harrah's blurb:
[ QUOTE ]
Foreign players without an ITIN or Foreign Players from a Non-Treaty Country, are subject to 30% Tax Withholding.
[/ QUOTE ]
US residents get all of their winnings, but the casino files a W2G with the IRS to let them know you won >$599. They leave it up to you to pay your taxes. Non-US players actually only get handed 70% if they are from the wrong place and/or don't have an ITIN tax number.
|