What about paying taxes at the end of the year?

Anything related to casinos, casino games, new casinos, tournaments etc.
Headline back 2
    2,706
    views
    6
    replies
    Last post ago about 7 years by ethereal
    No avatar normal
    • Started by
      Sr. Member
      392
    • last active 24 days ago

    Readers of this topic also read:

    Please or register to post or comment.
      • No avatar normal
        • Started by
          Sr. Member
          392
        • last active 24 days ago
        Hello Gang,

        I have a question, do you have to claim your winnings on your taxes at the end of the year? Do the online casino's report your wins? I know people who play bingo on line and have won but did not claim it on their taxes so they say. 

        Just kind of curious.

        Thanks.
        LH
      • Avatar 10150
        • Replied by
          Mighty! Member
          3,007
        • last active 3 months ago
        Hmmmm...well, first of all you jave got to win enough (Chuckle)

        But when the laws change, this will be one thing the onlines will be "Expected" to do for our beloved Govy collectors.

        I frankly wouldn't mind then telling the govt and myself "here's what you spent/lost/won and the profit ior loss.

        That way you have proof of the expenses.
      • Avatar 10386
        • Replied by
          Super Hero
          1,447
        • last active 3 months ago

        Thanks for this post from:

        • No avatar small
        LHofsdal wrote:

        Hello Gang,

        I have a question, do you have to claim your winnings on your taxes at the end of the year? Do the online casino's report your wins? I know people who play bingo on line and have won but did not claim it on their taxes so they say. 

        Just kind of curious.

        Thanks.
        LH

        I read somewhere that you do NOT have to report the winnings, don't remember where though!
      • Putting on lipstick emoticon 1
        • Replied by
          admin
          12,361
        • last active 1 hour ago
        Hi LH,

        Online casinos do not report your wins to the IRS. If you do not take it upon yourself to claim your winnings on your return there is only one snag. If the IRS audits you for any reason including income not reported, thats where it could get complicated.

        Lips
      • No avatar normal
        • Replied by
          Hero Member
          540
        • last active about 1 month ago
        I'll be more than happy to pay taxes over the money I won, as long as I get a refund over the money I've lost.
      • Index
        • Replied by
          Sr. Member
          445
        • last active about 2 months ago
        Here (Australia) you pay 0 tax on winnings! hoo! Even if you win 10,000,000 on the lottery, there is no tax on your actual winnings

      lcb activities in the last 24 hours

      • 32
        new members
      • 675
        members online
      • 13776
        guests online
      • 97
        new posts
      • 4007
        free games played
      Join the club

      Most viewed forum posts

      • Putting on lipstick emoticon 1
        Hi LCB'ers,Here is a list of freebies that are not on the weekly code list. This list includes casinos to check your acct, call/email for free chip and casinos not listed here at our forum.  I will update this list on...
        More Free Chips
      • Putting on lipstick emoticon 1
        LCB $250 August Contest – Lets Play Roulette     Hi LCB'ers because of the launch of the new site design i had to temporarily close this contest. Lets start fresh - for any member that may have already enterted a...
        CLOSED - LCB $250 August Contest – Lets Play Roulette
      • Putting on lipstick emoticon 1
        LCB $500 10th Anniversary Contest Wow, can you even believe it’s been a whole ten years we have been around! I know I am personally thrilled I have shared this time together with the old timers and of course all...
        Closed - LCB $500 10th Anniversary Contest

      Join today and start earning rewards

      You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
      S logo
      Select Language
      Search
      Search Results

      Report to moderator

      Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

      Please note that your email address will be revealed to the moderators if you use this

      Submit
      39012170