Curiosity Questions - IRS and Income Taxes

I've always been curious about how the pro player's handle income taxes. When you play in a major tournament (ie. The WPT) and make it to the cash, does the tournament or casino have to get your SSN and report to the IRS how much they payed each player? If not, do any of the players (like those on the bottom who may only make %15k - $20 k) take their winnings in cash? If you deposit a big check your bank would have to send in special forms to the government.

Also, do many of the top pro's who mainly play in cash games ever get "Lifestyle audit's) by the IRS? Is there any sort of audit trail in the big cash games? ie. If Doyle Brunson comes into the casino and gets $100k in chips at a cash table, does he come in with the actual cash or can he write a check to the casino? Does he do a cash advance on a credit card? Maybe get a credit line with the casino?

Just curious how the pro's handle the large sums of cash they're involved with what kind of income reporting pro players have to do. Thanks.

When you cash in big tournaments you have to provide an ID and a Social Security number, but you can take it in cash. As far as the big game players, I'm sure they have to keep pretty accurate records, so as not to run astray of the IRS. In the book about the big heads up game at the Bellagio( I think it is called "The Banker, the Lawyer and the Suicide King" the guy talks about Ted forest going to his lockbox at the casino and getting out around $250G's, so I guess they basically deal in cash.

[Jaquen H'gar]

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If you deposit a big check your bank would have to send in special forms to the government.


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Wrong. Checks leave their own paper trail. The reporting laws are for cash.