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from www.youtube.com
If a foreigner wins a sizeable jackpot in vegas, they must sign tax forms before receiving their payout money in cash, check, or bank wire. Before you start playing, be sure to sign up for a player’s card at the players club desk on the casino floor, or online. Gambling winnings are fully taxable, so you won't get to keep every penny even if you beat the odds and win big. Legislation has been proposed to increase that $1,200 threshold but hasn’t gained traction. The winner must also show id to confirm their identity. The internal revenue service (irs) has ways of ensuring that it gets its. This way, you’ll receive points for your play and the possibility of earning exciting comps. Depending on the size of the payout, various casino managers may also perform checks. A w2g will be generated and the win reported to the irs for any slot win of $1,200 or more. *any* casino wins, regardless of size are taxable whether you receive a w2g or not.
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From azmoneyguy.com
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