A List of the Best Overall Hold 'em Tournaments in Las Vegas

[rgold79]

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If you play at a Harrahs property (Caesars, Rio, Harrahs, Ballys, Paris, Flamingo, etc), and win a tournament with winnings over $599, you will be subject to a 30% withholding. MGM Mirage properties as well as Venetian do not require the withholding.


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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.

[bav]

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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.

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I'll quote a Harrah's blurb:

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Foreign players without an ITIN or Foreign Players from a Non-Treaty Country, are subject to 30% Tax Withholding.

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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.

[raisydaisy]

Cool, I'll just make sure I ask for clarification before I enter any tourneys.

[stetda]

I just got directed to this post today as a reply to a plea for advice on the MTT community boards.

Just wanted to say, awesome thread and thanks to crackhead for pointing me this way!

I especially appreciate the advice regarding the Venetian tourney vs the Binions tourney since I was actually plannning on playing the Binions one. I don't know if it was the idea of playing at Binions or just the relative prize pool etc., but the Venetian definitely sounds like the one to check out instead Sat night!

Thanks again!

Anyone have any advice on the best room for Sit and Go's?