Big tournament wins and taxes...

[Garland]

Hello,

I just experienced my first big tournament payout of $5000. I was fully expecting the casino to take my name, driver's licence and such in order to report taxes, but they didn't.

I know I'll be reporting all my winnings as I keep records of all my poker transactions, but I'm wondering if this is standard. Perhaps this is state dependent? I live in California.

I think in Las Vegas, if you finish in the money over $600 they will take your name, address and everything so they can report it or if you can't (or are unwilling) to provide the info they take a certain portion of the winnings up front. Maybe someone in Vegas can verify this for me.

What are some other experiences and laws with cashing out big and paying Uncle Sam?

Garland