Re: IRS Withholding on US Tournament Winnings Starts in 2008
[ QUOTE ]
I don't play MTTs myself, so I'm not sure how many players would make this. However, I see the following issue occuring in Vegas:
Pay $2,500 for tournament. Win 10K. Get 7,500. Now you're unable to play the main event.
Do you really think that you're gonna get that money back from the IRS after they have it?
[/ QUOTE ]
Yes you would get it back at the end of the year, its a credit on taxes payable. It would all even out in the end.
|