Re: Why Tax?
LMAO at this thread. I played for a year full time, and paid taxes. However if you want to get down to the letter of the law you are required to pay income tax on ANY and ALL income, including winnings.
If you have documented gambling winnings you had better pay the taxes, or you are going to possibly end up in jail as a few poker player have.
If you are a lossing player, especailly a slot player or you play at clubs with Jack Pots, you should document all your wins and losses so that you do not get to stuck for taxes if you hit a JP.
Having said that I am not aware of any non-pro cash players that pay taxes on thier winnings. Not that I am saying this is right, but there is simply no way for the IRS to document with an ample burden of proof the few thousand someone might win a year in low limit poker. And I doubt the IRs would use resources to hunt down that 200 win in the 4/8 game or even the casual gamplers undocumented cash wins. In other words I doubt the IRS really cares as a pratical matter about small gambling winnings. On the other hand, if you work part time in a 7-11 and live in a 1700 a month apartment and drive a $35,000 car, you might be audit bait or looked at very closley by the DEA.
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