Video Poker Forum

I went to Vegas three days ago.  The first night, I hit a royal flush on a nickel machine for a $200 payout.
 
The next morning after breakfast, I hit a royal flush on a twenty-five cent progressive machine for a $1900 payout.  I had played about three different progressive machines for about $20 each ($40-50 lost before the hit).
 
The floor attendant asked for my drivers license and SSN.  When I asked why, he said any jackpot over $1200 is reported to the IRS.  I told him I'd like to withhold $400.  He said he'd be back.
 
He & another attendant returned about 15 minutes later, asked me to sign a typed form document (W-2G), paid me, gave back my drivers license, congratulated me, then left.  No taxes were withheld.
 
In my 25 years of visiting Vegas and other sites, I've never received a W-2G before and am not familiar with rules for reporting gambling income.
 
What are the reporting rules?  Should tax have been withheld?  Will the IRS beat down my door next year?
 
Anybody have any thoughts or referrals to an on-line tax info site? 
 
 

Don't worry about taxes witheld on that amount of a win. If you have many, many w2g's during a quarter of the year(and you want to pay tax) you can pay that estimated tax with a 1040-es form. That is a quarterly estimated form usually used by those in a higher income bracket. At the end of the year, get letters of loss/win from all casinos you play in. If coin in is more than coin out and if you can itemize deductions your tax withholding problem is moot. Don't  worry about a small win or two.---CWA--

You know Mr Curious taxes are a waste of money. If the irs comes after you, you can just do what some of my friends do. File bankruptcy and ride a motor scooter.
Welcome to America. The home of the Clintons.
PM me and I will put you on to someone with personal tax gambling experience. 25 years of vegas and this is your first w2g. Wow that is some bad luck.

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