WhereDidMyEVGo
Visionary
Silver Level
Um...no, none of that is accurate.
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lamitchell43
Rising Star
Bronze Level
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Mhead414
Rising Star
Bronze Level
I have no clue where you came up with this or misread something that confused you but regardless you obviously have never cashed out at any point ever on globalpoker because if you had you'd know that if you cash out $103.50 of sweepscash you'll get $103.50 in ur bank account. There isnt even a debate regarding this cuz its a fact. Actually win and cash out then see for yourself
NCDaddy
Visionary
Silver Level
+1
All day, this. No matter what Global tells you....if you're not sure, consult a tax attorney or CPA. The only thing with this is the schedule A. This year standard deductions were increased significantly. In fact, for the first time in my adult life, I used the standard deduction instead of schedule A and that's with mortgage interest, donations, etc. etc. That means that....your losses may not necessarily be covered if you don't use a schedule A as it would all fall under the standard deduction, BUT, you'd still have to claim the income. Make sense? I know...it doesn't. B/C our tax system is f'ing screwy.
JJP
Visionary
Silver Level
I don't think you know what UIGEA is ... probably shouldn't talk about things you don't understand. It is not illegal to play online poker in the US
roger perkins
Visionary
Bronze Level
2.1.6. You are solely responsible for reporting and accounting for any taxes applicable to you under relevant laws for any Prizes that you receive from us;
This is there way of saying they do not report your wins or loses to anyone. So the IRS has ZERO idea of any transactions. Take that for what its worth.
This is there way of saying they do not report your wins or loses to anyone. So the IRS has ZERO idea of any transactions. Take that for what its worth.
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PhillyDJZ
Rising Star
Bronze Level
Really no need to sweat the small details.
Unfortunately, after reading a few of these "off the wall" replys regarding the tax responsibilty of any individual receiving a withdraw from Global Poker & I'm guessing the other like online houses, theres very little to nil accuracy in regards to one's IRS responsibility. Amazing how many of the answers are all over the place and serve little help to anyone seeking an accurate tax answer. Now please, don't take this as "bible" but I can absolutely tell you with 99.99% certainty that the nation of Malta only is responsible to report to the gov't of Malta. Hypothetically if they were to report the winning results to every other nations tax dept., it would be just a matter of time before the Malta Off-Shore Casinos would need to "shut their doors" due to all other country's infinite amount of an individual requested tax service information they would request on every single player from the inquring country every second, minute, hour, 7 days a week, 365 days a yr, etc...This would not only make it virtually impossible for let's just say for arguments sake, Global Poker to operate efficiently and most important of all, attend to the needs & requests of their customers. The same customer, every casino around the world, off-shore or stateside that really represents the main cog of that and other casinos he, as it pertains to the functionality of each casino, chooses to solicit when he/she sees fit. Casinos lose focus there, they mine as well just start using all their casino floor tables as secondary flotation devices along with every deck of cards on the island, could be distributed to all Malta citizens to fuel their chimney fireplaces in their living rooms.