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dont forget your itin number when you go to states
Just got back from the states. Played a few poker tournaments. Cashed in one in vegas no problems. Went to tampa and played, won $1100 dollars and was taxed 30 per cent. I know in vegas the casino will help you fill out the relevant tax forms, but not in Tampa. So will have to try from this end now. Please do not make this mistake if you go its not worth it. Just a little bit or form filling before you go will save a lot of hassel. I have learnt my lesson.
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Morning Tina,
I'm with Lord Bromley on this one.
Pardon what may sound a bit chirpy (guilty), but I had 4 cashes in Vegas this year, (2 @ The Rio, 1 @ Venetian & 1 @ PH) for sums ranging between $2,300 & $4,900. I do have an ITIN number, but they never asked to see it, or proof of it - they just paid me out in full, no questions asked.
I'm not 100% sure, but I think the tax threshold is $5,000.
If people who are reading this are worried that it all sounds rather complicated and annoying it must be said that generally this is a problem that doesn't come up and in my experience the bigger Vegas casinos always have someone on hand to deal with it. They issue you with a temporary ITIN and apply for a permanent one that goes on their record for you for next time. It's like having a temporary tax code if you start a new job.
A friend of mine did win some money this summer at a small Vegas casino though and they stopped the tax. Does anyone know exactly what he needs to do to get it back? (as he is asking me and I just said get a US accountant).
Going back 10 years, it as different, even in the WSOP. They offered an official "Consultant", who even had a little booth next to the payout desk, but they charged 10% or somesuch. Good luck with that......
I've never cashed for serious money in Vegas, but I'm not aware of players taking payment by cheque. Usually it's cash, chips, wire transfer, or just deposited in the cage.
When Julian Gardner won a milly for coming 2nd in the WSOP Main Event in 2002, he paid for an extra seat on the flight home & plonked the cash on the seat.
Thewy collected $250,000 or so at The Venetian in about 2008, & gave half to me to take home & took half himself, simply to spread the risk of getting a bash on the bonce.
I passed it back to him at Gatwick before Customs, & then he declared it. They wanted evidence of where he got a quarter of a milly, so he said "look it up on The Hendon Mob". And they did, & that was that, "on your way, wp mate".
A pal of mine, Rupert Elder, won a quarter of a milly in Aussie (not forgetting a milly at EPT San Rimo), & took the cheque to his bank, explaining that he had sold a lot of action, so most of it was not his. The Bank Manager, wondering why he had sold action, said "was that wise?" to Rupert.
Rupert, still stinging from the fact that he had sold 50% or whatever, said, "err, thanks for reminding me of that, mate".....
Probably not best to tell the tale of the time Ed Giddens, Ronnie De Beauloux (pronounced bollo x...), a chap named Pat, & me, scooped $90,000 in Moscow, & we got intercepted by Customs at Moscow Airport after some of our lads tried to secrete the cash about their person. Nasty ending, that one. Certainly made the eyes water.
In fact, it had TWO nasty endings. Having "lost" most of the cvash at Moscow Airport, things got worse.
The guy who promoted it & arranged it (it was a Team Event in Moscow for Russian TV) owed me & the lads for or air fares & incidental expenses as part of the deal. We were also to be paid for some commentary work we did in the Edit, which was done in Norway, so that was more air fares & hotel costs. A month or so later, I wrote to him, with my bill, it was a few thou, not a fortune, but a good few bob.
His wife wrote back to me a week later to say....."I'm sorry to say my husband was killed in a private 'plane crash in Northampton 2 weeks ago".
I mean what do you do then? Hardly seemed right to pester his widow at such a time. So that was that, we won $90k between us, spent an arm & a leg on air & hotel fares, & I never saw a cent.
Thewy's cash - if you think about it, there is very little risk of being mugged or carrying large sums of cash in the period between clearing Customs at each end of the journey. If someone was mugged on the 'plane, they still have to get through Customs the other end, & you would alert them. He has to take it all through US customs, then divvies it up, & then at the UK end, we give it back to him BEFORE he goes through UK customs. It must, of course, be declared.
An ITIN number is NOT the same as a UK Tax Number, no.
ITIN stands for Individual Taxpayer Identification Number, & is issued by the US authorities.
They are free, & can be obtained in a few minutes, no fuss or bother. Here's a link to the site you should use if you choose to get one....
https://www.itinformw7.com/?gclid=CJK-ruDeuM4CFdQaGwodDBAPKw
You will not need an ITIN in Punta Cana. Just plenty of sun tan cream.
Hope you win another package this year - you seemed to really enjoy every minute last year.