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tax on wsop cash

  • 22-12-2009 12:47pm
    #1
    speculationgame
    Closed Accounts Posts: 18 ✭


    Hoping to go to las vegas in the summer to play in the world series of poker. if i cash for $5000 more than the amount i pay to enter the tournament there will be a 30% withholding tax applied to the amount won unless i can send on a tax cert from ireland in advance. where do i go about getting this cert, ect. thanks.


Comments

  • #2
    Bobby1984
    Registered Users, Registered Users 2 Posts: 269 ✭✭Bobby1984


    speculationgame wrote: »
    Hoping to go to las vegas in the summer to play in the world series of poker. if i cash for $5000 more than the amount i pay to enter the tournament there will be a 30% withholding tax applied to the amount won unless i can send on a tax cert from ireland in advance. where do i go about getting this cert, ect. thanks.


    AFAIK you only have to send the tax cert on to the IRS once you have returned to Ireland with your millions from the WSOP. When you go over there i think you only have to show them your passport and then fill in a form to apply for an individual tax identification number. Tournament staff help you do this. Once you have come back and received a tax clearance cert (TC1 can be downloaded the Revenue website) you send it off to the IRS and then they refund the 30% which has been taken from you.

    Best of luck going up against Phil Gus and the rest of the stars :cool:


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