Category Archives: Gambling

Can a Non-Tax Treaty Country Resident Obtain a Refund of Gambling Withholding from the IRS?

Posted on July 10, 2016 by Russ

Every year during the World Series of Poker (WSOP) I receive several inquiries like the following: I’m a resident of Brazil and I cashed in an event at the WSOP and won $100,000 (net). The Rio withheld 30% of that … Continue reading →

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Taxes and the WSOP: 2016 Update

Posted on May 16, 2016 by Russ

I’ll be heading to the Rio Hotel and Casino tomorrow for three days of continuing education. In a little over two weeks, the poker world will be descending on the Rio for the annual World Series of Poker. (I’m probably … Continue reading →

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1500 Full Tilt Remission Petitions Denied by Department of Justice

Posted on May 8, 2016 by Russ

Most (but not all) of the remission payments for balances on Full Tilt Poker have been resolved. However, a notice appeared on Friday on www.fulltiltpokerclaims.com: INFORMATION REGARDING DENIED PETITIONS GCG has been informed that the Department of Justice Asset Forfeiture … Continue reading →

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Online Gambling Addresses Updated for 2016

Posted on March 8, 2016 by Russ

This list has been superseded by the 2017 list. With the United States v. Hom decision, we must again file an FBAR for foreign online gambling sites. An FBAR (Form 114) is required if your aggregate balance exceeds $10,000 at … Continue reading →

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North Carolina Added to Bad States for Gamblers

Posted on February 13, 2016 by Russ

North Carolina changed its tax law over a year ago. While I have professional gambling clients in North Carolina, I do not currently have amateur gambling clients. It’s likely I won’t be getting many of those, as North Carolina legislators … Continue reading →

Posted in Gambling, North Carolina | 5 Comments

Can a Resident of a Non-Tax Treaty Country (With Respect to Gambling) Get His Withheld Funds Back?

Posted on February 9, 2016 by Russ

Today, I received an inquiry from a citizen of New Zealand (he is not a US citizen or permanent resident). He had done well in a poker tournament here in the United States–well enough to have had 30% of his … Continue reading →

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A Tale of Three States

Posted on February 3, 2016 by Russ

Hawaii, Indiana, and Mississippi are three states where daily fantasy sports (DFS) is being debated. The three states are representative of what is likely to occur in every state. Last week, Hawaii Attorney General Doug Chin issued an advisory opinion … Continue reading →

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Fail, Caesar! An Update

Posted on January 21, 2016 by Russ

It’s been just over a year since Caesars Entertainment Operating Company (CEOC) declared bankruptcy. If Caesars Management was hoping that the court-appointed examiner would be giving them good news, and that the company would be coming out of bankruptcy unscathed, … Continue reading →

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Texas Attorney General: DFS Illegal in Texas

Posted on January 19, 2016 by Russ

Texas’s Attorney General, Ken Paxton, issued an opinion today that says that daily fantasy sports (DFS) is illegal under Texas law. The crux of Mr. Paxton’s argument is, Under section 47.02 of the Penal Code, a person commits an offense … Continue reading →

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Are Tips (Gratuities) at the Poker Table Deductible?

Posted on December 21, 2015 by Russ

You win a poker tournament, and the floorperson asks you, “Do you want to leave anything for the dealers?” That’s a tip (or gratuity). I was recently asked, “Is that tax deductible? And what about when you’re playing a cash … Continue reading →

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