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Old 09-05-2007, 06:04 PM
BigAlK BigAlK is offline
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Join Date: Jul 2006
Posts: 874
Default Re: IRS Withholding on US Tournament Winnings Starts in 2008

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How tourney operators are going to handle this matter I find quite interesting. Just wondering out loud but could an arguement be made that a satellite win to a main event was in effect a single session with any withholding done after the result of the main event. How this might fly with restrictions on third party registration bans that cause sponsors to offer prizes in cash instead of direct entry as well as on-line entry into major events, I don't know. But perhaps in this instance the interests of on-line and the B&M poker worlds just might interceede.

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Except (at least in the case of the WSOP) the ban on third party registration only applies to on-line. I believe B&Ms can still do third party registrations. I'm not sure of the ins and outs of claiming a sat and the event you're entered into as a single session. I believe this is somewhat gray and might depend on whether you had the option of taking cash in lieu of entry or transfering the seat. If the seat is non-transferable and you don't receive anything of value except the entry (no lammers that can be sold on the open market instead of used for entry) then it probably does count as one session. It depends on constructive receipt (I think that's the term) and receiving something that can be converted to cash is possibly no different than receiving the actual cash. (This goes to the discussion, I think in this thread, about receiving casino chips instead of cash.)
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