The US government said that professional poker players will be required to declare winnings that have been received from gambling. The new rules will take effect in 2019.
The changes include not only cuts in some tax rates, but also an increase in the individual alternative minimum tax.
Also, all players who play poker at a professional level will report their winnings using a special application called Profit or Loss from a Business.
Some players will be given a special form that will allow them to receive certain winnings benefits. For example, benefits will be granted if the net winnings are $ 600 or more. But gambling establishments will have to keep 24% if the amount of net winnings exceeds five thousand dollars.
As a reminder, the largest prize pool in the history of online poker tournaments will be drawn at MILLIONS Online. The guarantee for the event, which will take place at partypoker from 25 November to 5 December 2018, will be $ 20 million. The prize pool will be higher if the tournament has more than 4000 entries.
Iowa Lottery Winner Receives $ 1 Gift Check
Tyler Heap from the American city of Urbandale in Iowa has asked the organizers of the IALottery to provide him with a gift check for his one dollar win. Representatives of the company did not refuse the client and wrote him a presentation certificate, which is usually awarded to the winners of major draws.
I just walked into the office with the winning ticket and said that I needed one of those big presentation checks as payment. It’s amazing that no one has done this before.
The lottery organizers wrote Tyler Heep a check on a large letterhead and offered to be photographed with him in front of the IALottery logo, as they do in the case of rewarding clients who won large cash prizes.
Talking to reporters, Heep joked that he could buy half a gallon of gasoline (about 2 liters) with his winnings. However, the winner did not use the money received, and placed the check on the wall in his room.