Social security numbers
What happens if you give them a different social, but file a tax return with that income?
Please PM if this is sensitive information. I'm sure you counters have some clever answer.
Quote: djatc
What happens if you give them a different social, but file a tax return with that income?
What happens is the person doing this may be charged with tax evasion, identity theft, and possibly several other crimes.
Quote: AZDuffmanWhat happens is the person doing this may be charged with tax evasion, identity theft, and possibly several other crimes.
So how do counters and AP's get W2-Gs if they are playing under a different name?
Quote: djatcI didn't realize this until I started hitting W2-Gs from casinos, but are there any ways to get paid without giving ID/socials? I'm a bit paranoid about casinos getting more information then necessary. I hit a few royals and handpays and do not like the fact the casino holds on to my license and I have to write in my social.
What happens if you give them a different social, but file a tax return with that income?
Please PM if this is sensitive information. I'm sure you counters have some clever answer.
Counters don't have to provide a SS# since their winnings are from table games. (OK, OK...there are some exceptions like the craps Fire Bet on the 6th point, but you get the point)
If you're talking about using someone else's SS#, that's a felony and simply isn't worth it. You'll end up spending money on attorneys and time behind bars.
Quote: Beethoven9thCounters don't have to provide a SS# since their winnings are from table games. (OK, OK...there are some exceptions like the craps Fire Bet on the 6th point, but you get the point)
If you're talking about using someone else's SS#, that's a felony and simply isn't worth it. You'll end up spending money on attorneys and time behind bars.
True but what about "carnival" game sidebets such as the spade royal in 3CP or Pai Gow progessives? I'm not looking to use someone's SS#, I wanted to know if there was a way since you are legally allowed to use aliases when you play.
Quote: djatcTrue but what about "carnival" game sidebets such as the spade royal in 3CP or Pai Gow progessives? I'm not looking to use someone's SS#, I wanted to know if there was a way since you are legally allowed to use aliases when you play.
You think Bob Dancer is his real name? You just can't
lie on an IRS form.
Quote: djatcI didn't realize this until I started hitting W2-Gs from casinos, but are there any ways to get paid without giving ID/socials?
I'll ask a tax professional about this, but there may be an option to decline to provide such information if you don't mind a lot of taxes being withheld. If anyone here knows, I'd be interested.
Do casinos have a way get your SS number with only your ID an players card if they wanted? I heard a situation where someone had NOT ever provided their SS#. After hitting a Jackpot and showing ID and a players card ONLY, they returned with a W2G form with their SS# included on it, however that was the first taxable Jackpot they ever hit In that chain of casinos.
Quote: AxelWolfDo casinos have a way get your SS number with only your ID an players card if they wanted? I heard a situation where someone had NOT ever provided their SS#. After hitting a Jackpot and showing ID and a players card ONLY, they returned with a W2G form with their SS# included on it, however that was the first taxable Jackpot they ever hit In that chain of casinos.
This isn't SS related, but a while back, the Venetian/Palazzo kept sending me offers for free rooms for multiple nights, and it included $100 match play coupons. These aren't the type of offers one usually gets. (I happened to be playing big at an Indian casino at the time.) But here's the thing: I was living in AZ and had NEVER even been to the Venetian/Palazzo or any other Sands property back then! How the hell they got my full name & home address, I will never know. I keep that info fiercely guarded.
Quote: Beethoven9thThis isn't SS related, but a while back, the Venetian/Palazzo kept sending me offers for free rooms for multiple nights, and it included $100 match play coupons. These aren't the type of offers one usually gets. (I happened to be playing big at an Indian casino at the time.) But here's the thing: I was living in AZ and had NEVER even been to the Venetian/Palazzo or any other Sands property back then! How the hell they got my full name & home address, I will never know. I keep that info fiercely guarded.
This same thing happened to my girlfriend with LVH.
Hosts from other casinos often hop around and keep players information. That's often how hosts get better job offers from other casinos. I have seen Hosts get management type jobs because they were thought to have names of big players.Quote: Beethoven9thThis isn't SS related, but a while back, the Venetian/Palazzo kept sending me offers for free rooms for multiple nights, and it included $100 match play coupons. These aren't the type of offers one usually gets. (I happened to be playing big at an Indian casino at the time.) But here's the thing: I was living in AZ and had NEVER even been to the Venetian/Palazzo or any other Sands property back then! How the hell they got my full name & home address, I will never know. I keep that info fiercely guarded.
If your saying you never gave any information to any casino....well I guess they buy mailing lists and you accidentally got entered into the casinos computer system as a BP.
Quote: RogerKintThis same thing happened to my girlfriend with LVH.
Quote: AxelWolfHosts from other casinos often hop around and keep players information. That's often how hosts get better job offers from other casinos. I have seen Hosts get management type jobs because they were thought to have names of big players.
If your saying you never gave any information to any casino....well I guess they buy mailing lists and you accidentally got entered into the casinos computer system as a BP.
I had thought it was someone from the Indian casino, but I couldn't think of who it could be because my host was still working there when I got all those offers. I was also thinking that perhaps the Venetian/Palazzo had bought a mailing list from either my debit or credit card company since I did get large cash advances at the Indian casino a couple times.
Whatever the case, it was kinda unnerving to see how easily one's personal info can be obtained.
Quote: WizardI'll ask a tax professional about this, but there may be an option to decline to provide such information if you don't mind a lot of taxes being withheld. If anyone here knows, I'd be interested.
Please do. For security reasons I prefer not to give out socials, and I'll gladly have taxes taken out if the casino wants to do it that way.
Quote: djatcPlease do. For security reasons I prefer not to give out socials, and I'll gladly have taxes taken out if the casino wants to do it that way.
http://www.irs.gov/instructions/iw2g/ar02.html
You're subject to backup withholding at 28% if you don't furnish your TIN. But I don't know if you can get that back later on your actual return, so contact your tax preparer for the net impact of that. Backup withholding is only 3% more than regular (28% vs. 25%) if it's a $5000+ jackpot, but it's a big chunk (28% vs. zero) if it's less.
If you're routinely getting W-2Gs, you should have a standard plan for dealing with them that fits with your specific tax situation.
are u afraid of getting deported back to Japan agian? Obviously u cant play higher then .25 cents if they tske 28% and they do.Quote: djatcPlease do. For security reasons I prefer not to give out socials, and I'll gladly have taxes taken out if the casino wants to do it that way.
Quote: AxelWolfAny one know the number to imagination.
.......................77 You get eight more than in 69 ...
Quote: MarissaWithholding rate for foreign nationals that are not from a treaty country is 30%.
In this day and age, it raises tremendous amounts of red flags if you decline to disclose your identity in the world of the Bank Secrecy Act.
Besides, if you're playing machines and generate a W2g, wouldn't you be using a players card? which at that point they have your identity anyway.
On a side note, I wouldn't recommend answering questions on a website that might be construed as helping one circumvent the Bank Secrecy Act.
Here's an interesting memo I found from the Amercian Gaming Association. http://www.americangaming.org/sites/default/files/uploads/docs/factsheets/sarc_policy_6.pdf
As an aside wouldn't they have to pay it in full to someone, like me, from the UK - if only there was some friendly soul you knew in the casino at the same time!
Quote: djatcTrue but what about "carnival" game sidebets such as the spade royal in 3CP or Pai Gow progessives?
I think the "300-1" rule applies - you get a W-2G if you make any single bet that (a) is at 300-1 or higher odds, and (b) netted you at least $600.
The fact that the minimum amount equals the minimum odds at a $2 bet leads me to believe that the rule was meant initially to cover things like a horse racing Daily Double. (I would say Exacta, but (a) "in my day," the minimum Exacta bet was $5, and (b) I can't remember ever seeing an exacta pay more than 150-1, much less 300-1.)
Of course once the other exotics arrived with rakes of 23-30%. the tracks loved exotics
You can in the USA, deduct loses from winnings on your tax form.
Quote: LarryS
You can in the USA, deduct loses from winnings on your tax form.
Yeah, but it's not a very good deal. Your losses can't exceed your winnings and you have to itemize your deductions..bahumbug.
Quote: LarryS
You can in the USA, deduct loses from winnings on your tax form.
Only if you itemize deductions.
Quote: djatcSo another part of this question is how the casino got my information without giving them any except for a driver's license. I received a W2-G with my social listed on it when my license only contains my name and address.
It's kinda creepy how easily they can obtain such info.
Quote: MathExtremisthttp://www.irs.gov/instructions/iw2g/ar02.html
You're subject to backup withholding at 28% if you don't furnish your TIN. But I don't know if you can get that back later on your actual return, so contact your tax preparer for the net impact of that. Backup withholding is only 3% more than regular (28% vs. 25%) if it's a $5000+ jackpot, but it's a big chunk (28% vs. zero) if it's less.
If you're routinely getting W-2Gs, you should have a standard plan for dealing with them that fits with your specific tax situation.
$5k?
thought you get one for a $1200+ slot jackpot or hitting 300:1 odds?
Quote: 100xOdds$5k?
thought you get one for a $1200+ slot jackpot or hitting 300:1 odds?
Slots are not subject to the 25% regular withholding, but if you win $5000 at a table game and it was 300:1 or better, then the casino must withhold 25%. If you don't provide a valid TIN, then they must withhold 28%.
You will get a w2-g on a slot win of $1200 or higher, but there is no withholding requirement if you provide a valid TIN, otherwise it is 28%.
Quote: AxelWolfare u afraid of getting deported back to Japan agian? Obviously u cant play higher then .25 cents if they tske 28% and they do.
That's what I plan on doing. Staying under the radar and playing quarters on non-gimmick machines until I have some breathing room. Maybe 2016 or so I will diversify.
Quote: Mission146What about the 300+:1 odds? Is there a minimum win for that to be the case? I know that I've hit 300+:1 on Video Keno and Slots before and it has not registered as a jackpot of any kind.
You should get a w2-g for a $600 win at a table game, only if it was 300:1. Withholding at a table game is required for a win over $5000. The 300:1 does not apply to slots (including video keno and poker).
