Poll

5 votes (45.45%)
7 votes (63.63%)

11 members have voted

RS
RS
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January 2nd, 2016 at 1:27:50 PM permalink
Best part of the year! Thankfully I don't do all my own taxes, but this is going to be a pain in the ass. I'm not always the best with keeping track of W2G's and such. My record keeping is pretty good (I think), but is going to be a b**** and a half to get everything done nice & neat and in order.

Yayyyyyyyyy.....................
Sabretom2
Sabretom2
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January 2nd, 2016 at 2:36:25 PM permalink
I'm not a pro and keep no records. I have 8 grand worth of W2g and hope the two of us show enough loss on the various win-loss statements. Worked out ok last year.
GWAE
GWAE
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January 2nd, 2016 at 3:23:53 PM permalink
Mine are easy and fun. I use turbo tax. 1 w2, no w2gs this year, and basically no deductions so taking the standard.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
djatc
djatc
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January 2nd, 2016 at 4:32:27 PM permalink
Isnt it illegal for the government to collect income tax?
"Man Babes" #AxelFabulous
TwoFeathersATL
TwoFeathersATL
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January 2nd, 2016 at 4:56:25 PM permalink
Quote: djatc

Isnt it illegal for the government to collect income tax?

Yes, but they come well armed and the servants actually believe you are the bad guy. sigh...
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F
teddys
teddys
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January 2nd, 2016 at 5:15:00 PM permalink
Is it tax season already? It's only Jan. 2nd...

Best to get them done early.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
GWAE
GWAE
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January 2nd, 2016 at 5:37:44 PM permalink
Quote: teddys

Is it tax season already? It's only Jan. 2nd...

Best to get them done early.



I already have mine done, just gotta wait for official w2 to come to make sure the numbers match
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
djatc
djatc
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January 2nd, 2016 at 5:41:42 PM permalink
If you are owed money in returns: ASAP

If you owe money: April 14 YOLO
"Man Babes" #AxelFabulous
ThatDonGuy
ThatDonGuy
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January 2nd, 2016 at 6:27:43 PM permalink
Quote: djatc

Isnt it illegal for the government to collect income tax?


Our friendly and helpful government has provided a convenient list of frivolous tax arguments, most of which are based around some excuse that income tax is illegal. For example, "The constitution says that the government cannot charge income tax, and the amendment that changed this was never ratified as Ohio technically was not a state when it ratified it" (and never mind that, if Ohio was not a state, then the number of states needed to ratify it would have gone down by one).

Wesley Snipes tried one of these with his 2007 income tax. He ended up getting three years in prison, but that was for not filing tax returns for later years (using the same argument).
beachbumbabs
beachbumbabs
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January 2nd, 2016 at 10:02:54 PM permalink
Quote: djatc

If you are owed money in returns: ASAP

If you owe money: April 14 YOLO



Yeah, with identity theft, you should file fast these days if you expect a refund.
If the House lost every hand, they wouldn't deal the game.
djatc
djatc
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January 2nd, 2016 at 11:14:39 PM permalink
Quote: ThatDonGuy


Wesley Snipes tried one of these with his 2007 income tax. He ended up getting three years in prison, but that was for not filing tax returns for later years (using the same argument).



Didn't Twilight come out when Wesley Snipes, who played a vampire hunter in Blade, was in jail? Hmmm.....
"Man Babes" #AxelFabulous
coilman
coilman
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January 2nd, 2016 at 11:50:23 PM permalink
Quote: djatc

If you are owed money in returns: ASAP

If you owe money: April 14 YOLO



Friend hit a jackpot in March 2014.... I did the paperwork to get the ITIN so they could file for return around May of this year.......December comes along and a letter arrives saying...

WE NEED 6 more months to finish your claim..... person is still waiting
teddys
teddys
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January 3rd, 2016 at 6:37:25 AM permalink
Quote: ThatDonGuy

Our friendly and helpful government has provided a convenient list of frivolous tax arguments, most of which are based around some excuse that income tax is illegal. For example, "The constitution says that the government cannot charge income tax, and the amendment that changed this was never ratified as Ohio technically was not a state when it ratified it" (and never mind that, if Ohio was not a state, then the number of states needed to ratify it would have gone down by one)..

This would additionally be a stupid argument because Ohio became a state in 1803, and the income tax amendment was ratified in 1913.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
DRich
DRich
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January 3rd, 2016 at 7:34:55 AM permalink
Quote: RS

Best part of the year! Thankfully I don't do all my own taxes, but this is going to be a pain in the ass. I'm not always the best with keeping track of W2G's and such. My record keeping is pretty good (I think), but is going to be a b**** and a half to get everything done nice & neat and in order.

Yayyyyyyyyy.....................



I was terrible at record keeping especially keeping all of my W2G's back when I was playing big. I had one year that I filed and failed to claim over 30 of the W2G's I had received that year (I had about 300 that year). Yes, the IRS caught it and came back to me. That is when I learned something that I think is helpful to all gamblers. You can go down to the IRS office and they will give you a computer printout of all W2's and 1099's that were filed with them. Just use that sheet when filling out your taxes. The added benefit is that if a property screwed up and didn't file some of them, you will not be claiming anything the casino's didn't.

I now do this every year and don't even bother to keep track of the paper W2G's I am given.

If you decide to do this I recommend you wait until at least February to do it so that you can be sure that all the casinos have already submitted their paperwork.
At my age, a "Life In Prison" sentence is not much of a deterrent.
kewlj
kewlj
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January 3rd, 2016 at 10:05:17 AM permalink
Quote: djatc

If you are owed money in returns: ASAP

If you owe money: April 14 YOLO



Why? Do you have other plans for April 15th? LOL.
HowMany
HowMany
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January 3rd, 2016 at 12:09:07 PM permalink
Quote: beachbumbabs

Yeah, with identity theft, you should file fast these days if you expect a refund.



Yes. This right here.

It happens often. You expect your refund only to learn that someone else already filed and got it. This happened to a few people that I know. It take a long time and lots of work to get things straightened out.
Face
Administrator
Face
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January 3rd, 2016 at 3:42:32 PM permalink
I'm making a stand. Not quite to the level of Snipes, but a stand nonetheless.

They really screwed me last year. Dunno if they don't get court stuff or whatever but they denied me claiming my own son. Took about $40 in fax fees to get them the info, and then they said "may take 120 days to process". 120 days?!

I called on day 118. "We got nothin'. Wait two days and call back." Wtf ever, dude.

So I call back, they say it's good to go, and I inform them they must pay me interest for keeping my funds much, much longer than reasonable. Surprisingly, the guy said they may do just that. Hooray, right? Nope. No interest. Just the money I deserved some 7 months earlier.

Few months later I get a notice that I was audited and I owe from 2012. Why? Again, they disallowed my f#$%ing child credit. And... AND! these silly c#$%s charged me interest on it!

Sorry and I don't care. I got it on 12/17ish with a pay-by date of 12/21. Unfortunately, it's going to take me 120 days to process it, f#$% you and f#$% your interest. If it was a legitimate error on my part, I'll pay the $60 or whatever it is I owe. But not one penny in interest. If you wanna put me in jail over twelve f#$%ing dollars, you know where to find me.
The opinions of this moderator are for entertainment purposes only.
ThatDonGuy
ThatDonGuy
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January 3rd, 2016 at 4:02:51 PM permalink
Quote: teddys

Quote: ThatDonGuy

Our friendly and helpful government has provided a convenient list of frivolous tax arguments, most of which are based around some excuse that income tax is illegal. For example, "The constitution says that the government cannot charge income tax, and the amendment that changed this was never ratified as Ohio technically was not a state when it ratified it" (and never mind that, if Ohio was not a state, then the number of states needed to ratify it would have gone down by one)..

This would additionally be a stupid argument because Ohio became a state in 1803, and the income tax amendment was ratified in 1913.


Technically, Ohio did not become a state "officially" until 1953, which is when somebody discovered that, back in 1803, Congress never passed an official acceptance of Ohio as a state.

As for me, I just have to remember not to wait for my usual 1099-G (not to be confused with a W-2G) this year, since, thanks to capital gains from some mutual funds I sold last year, I ending up cutting a check and sending it to Sacramento.
djatc
djatc
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January 3rd, 2016 at 6:56:19 PM permalink
Quote: kewlj

Why? Do you have other plans for April 15th? LOL.



I always thought it was due April 15th midnight, but I have no idea since I always file an extention.
"Man Babes" #AxelFabulous
EvenBob
EvenBob
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January 4th, 2016 at 9:07:41 AM permalink
In the mid 50's, when the IRS was not
regulated and was a Gestapo, they
went to Lou Costello's (Abbott and Costello)
mansion in LA and seized everything he
owned. They even took the diamond off
his wife's finger. They also nabbed Bud
Abbott and ruined him financially.

All those years when they were two of
the highest paid actors in H-wood, they
kept terrible tax records and had tons
of unreported income. One time a check
for $100,000 (almost a million in today's
money) was delivered to Lou on a movie
set. He went to the phone and bought a
yacht sight unseen and had the check
delivered to pay for it. The IRS frowns
on this kind of thing, he never reported
the 100K on his taxes.
Last edited by: EvenBob on Jan 4, 2016
"It's not called gambling if the math is on your side."
ukaserex
ukaserex
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January 4th, 2016 at 9:46:39 AM permalink
You get three extra days to gather your paperwork and file your federal tax return in 2016. The tax deadline is April 18.

You can thank Washington, D.C., for the gift. Washington will celebrate Emancipation Day on April 15. The day is treated as a federal holiday, so federal offices – read IRS – will be closed.

Disclaimer: This information should not be a substitute for professional tax advice.
"Those who have no idea what they are doing, genuinely have no idea that they don't know what they are doing." - John Cleese
ThatDonGuy
ThatDonGuy
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January 4th, 2016 at 10:43:58 AM permalink
Quote: djatc

I always thought it was due April 15th midnight, but I have no idea since I always file an extention.


It is due at the end of April 15 - i.e. just before midnight, April 16. Note that some post offices will not only stay open on April 15 until midnight, but will accept tax returns just after midnight and postmark them April 15, which the IRS will accept without penalty.
RS
RS
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Joined: Feb 11, 2014
January 4th, 2016 at 11:24:41 AM permalink
Quote: DRich

I was terrible at record keeping especially keeping all of my W2G's back when I was playing big. I had one year that I filed and failed to claim over 30 of the W2G's I had received that year (I had about 300 that year). Yes, the IRS caught it and came back to me. That is when I learned something that I think is helpful to all gamblers. You can go down to the IRS office and they will give you a computer printout of all W2's and 1099's that were filed with them. Just use that sheet when filling out your taxes. The added benefit is that if a property screwed up and didn't file some of them, you will not be claiming anything the casino's didn't.

I now do this every year and don't even bother to keep track of the paper W2G's I am given.

If you decide to do this I recommend you wait until at least February to do it so that you can be sure that all the casinos have already submitted their paperwork.



Interesting. I had no idea this could be done. That's awesome! When are casinos required to submit their W2G's to the IRS, or is that also April 15'th? Or is it by end of January?


Ugh, I don't wanna do these damn tax things. Arghhhh!!! What makes it even more complicated is I'm going to be doing record-keeping a little differently for 2016, which semi complicates some 2015 tax stuff....plus I gotta figure out a way to make a new excel spreadsheet that won't piss me off.
ukaserex
ukaserex
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January 4th, 2016 at 11:28:44 AM permalink
The casinos should have the win/loss statements ready by no later than the 2nd week of February. The w-2gs are copies, so they should be ready whenever you ask for them. The bigger casinos probably have win/losses available online, in pdf form. (I got one just last night, instantly)
"Those who have no idea what they are doing, genuinely have no idea that they don't know what they are doing." - John Cleese
DRich
DRich
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January 4th, 2016 at 12:14:34 PM permalink
Quote: RS

Interesting. I had no idea this could be done. That's awesome! When are casinos required to submit their W2G's to the IRS, or is that also April 15'th? Or is it by end of January?


Ugh, I don't wanna do these damn tax things. Arghhhh!!! What makes it even more complicated is I'm going to be doing record-keeping a little differently for 2016, which semi complicates some 2015 tax stuff....plus I gotta figure out a way to make a new excel spreadsheet that won't piss me off.



I believe they are required to file them by Jan 31st but I usually give them an extra week or two before I head to the IRS office.
At my age, a "Life In Prison" sentence is not much of a deterrent.
RS
RS
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January 4th, 2016 at 12:53:23 PM permalink
I like that. I'll plan on doing that this year.
DRich
DRich
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January 4th, 2016 at 1:02:45 PM permalink
The radio show Gambling With an Edge had a guest that is an enrolled agent who specializes in Gamblers. All gamblers should listen to it as it is a pretty good show. A podcast link is below:

http://www.slot-machine-resource.com/podcasts/rfox.mp3
At my age, a "Life In Prison" sentence is not much of a deterrent.
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