NokTang
NokTang
Joined: Aug 15, 2011
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May 16th, 2014 at 8:17:23 AM permalink
I'm a bit confused about what happens if you get "lucky" and win call it over $10,000.usd..

I don't even have a Social Security card and surly Las Vegas and other venues have players winning over 10k all the time.

Do these casino's, Las Vegas, Reno, Atlantic City, and others, in fact refuse to pay you if you don't produce such documents?
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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May 16th, 2014 at 8:24:46 AM permalink
Quote: NokTang

I'm a bit confused about what happens if you get "lucky" and win call it over $10,000.usd..

I don't even have a Social Security card and surly Las Vegas and other venues have players winning over 10k all the time.

Do these casino's, Las Vegas, Reno, Atlantic City, and others, in fact refuse to pay you if you don't produce such documents?

30% off the top to the casino/IRS. Depending on where you are from, you can get some back when you file your taxes.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
CrystalMath
CrystalMath
Joined: May 10, 2011
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May 16th, 2014 at 8:28:00 AM permalink
Quote: NokTang

I'm a bit confused about what happens if you get "lucky" and win call it over $10,000.usd..

I don't even have a Social Security card and surly Las Vegas and other venues have players winning over 10k all the time.

Do these casino's, Las Vegas, Reno, Atlantic City, and others, in fact refuse to pay you if you don't produce such documents?



I think they can refuse to pay if you do not provide identification, and should hold the winnings until you return with your ID. If you don't have a social security card, they will withhold a standard percentage.
I heart Crystal Math.
GWAE
GWAE
Joined: Sep 20, 2013
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May 16th, 2014 at 9:00:35 AM permalink
Quote: CrystalMath

I think they can refuse to pay if you do not provide identification, and should hold the winnings until you return with your ID. If you don't have a social security card, they will withhold a standard percentage.



I don't think he is questioning producing ID. He is asking about a social. The casino will take 30% but depending on your country you can get it back by completing forms.
http://www.vegaschatter.com/story/2013/9/27/3917/58056/vegas-travel/When+Your+Winnings+Are+Taxed+But+You+Don%27t+Live+In+America,+Eh

OP, this will also apply to any win of $1200 or more. It does not have to be 10k.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
MrWarmth
MrWarmth
Joined: Apr 11, 2014
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May 16th, 2014 at 9:18:54 AM permalink
You're withheld on >$1,200 at the highest tax bracket, the assumption being that you're in that bracket. It all reconciles in the end ... if your winnings are low enough to where your losses offset it, you'll get it back after the government holds it interest-free for however-many months. I've done this a few times, reporting only the 1099 amounts and not proving up the losses and never had a problem ... but that was when we only owed $5 - $6 trillion or so, not the $17+ trillion that we owe now.

The $10,000 thing comes into play when you try to carry cash. When the laws changed after 9/11, any cash of $10,000 or more triggers a couple of things that you have to deal with. I've never tested it so I don't know what happens, I just know something happens.
Ibeatyouraces
Ibeatyouraces
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May 16th, 2014 at 10:03:36 AM permalink
deleted
DUHHIIIIIIIII HEARD THAT!
chickenman
chickenman
Joined: Nov 1, 2009
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May 16th, 2014 at 10:11:19 AM permalink
I assumed he was talking the cage where they'd hit you with the CTR.
NokTang
NokTang
Joined: Aug 15, 2011
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May 16th, 2014 at 6:41:22 PM permalink
Yes, I'm talking about table game winnings and totals, not slot jackpots.

If you buy in for $10,000.usd and cash out for $11,000.usd obvious to you it wasn't winnings. I'm asking if this is really an issue when chips involved.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 16th, 2014 at 8:24:29 PM permalink
Quote: NokTang

Yes, I'm talking about table game winnings and totals, not slot jackpots.

If you buy in for $10,000.usd and cash out for $11,000.usd obvious to you it wasn't winnings. I'm asking if this is really an issue when chips involved.

I don't think you'll need a social security number or card. There wouldn't be anyway to track terrorists and drug dealers etc. if it was necessary. You might just want to ask at the casino or friends in similar situations to get a better answer.

One thing I do know is you shouldn't avoid them because you most likely can't and would just get a suspicious activity report added to them.
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GWAE
GWAE
Joined: Sep 20, 2013
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May 16th, 2014 at 8:38:33 PM permalink
Quote: NokTang

Yes, I'm talking about table game winnings and totals, not slot jackpots.

If you buy in for $10,000.usd and cash out for $11,000.usd obvious to you it wasn't winnings. I'm asking if this is really an issue when chips involved.



I don't know how much you are risking on 1 spin but you could just buy in for 1k at a time that way it will only matter if you are up 9k.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW

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