Re: IRS Withholding on US Tournament Winnings Starts in 2008
Thanks DeadMoneyDad!
So if I understand it correctly people don't have to pay more taxes due to the withholding. They just pay it at a different time then. At least those people that filed their tournament winnings correctly before.
Of course giving the IRS money (without interest) that can be partially returned after filing a tax report is a disadvantage in liquidity.
Shadow
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